According to the profit-maximization goal, the firm should attempt to maximize short-run profits since there is too much uncertainty associated with long-run profits

Asymmetric information problems arise

A) in horizontally integrated firms, but not vertically integrated firms. B) in vertically integrated firms, but not horizontally integrated firms. C) in both vertically and horizontally integrated firms. D) only in firms that do not have the advantage of either horizontal or vertical integration. E) only when a single firm is both horizontally and vertically integrated.

Which of the following is NOT a characteristic of a corporation?

A) limited liability for shareholders B) double taxation C) separation of ownership problems D) limited ability to raise capital funds