The production possibilities frontier is the boundary between those combination of goods and services that can be
A) produced and those that can be consumed.
B) consumed domestically and those that can be consumed by foreigners.
C) produced and those that cannot be produced.
D) consumed and those that cannot be produced.
C
Economics
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What is the major advantage of the corporate form of business organization?
A) Its owners have limited liability. B) Its owners have unlimited liability. C) Its profits are not taxed. D) Its profits are taxed twice.
Economics
All of the following are problems associated with maintaining a cartel except
a. cartels are illegal. b. a large amount of information is needed to coordinate a cartel. c. profits are not maximized by a cartel so it will evolve into a monopoly. d. each member of the cartel has an incentive to "chisel" by expanding output.
Economics