A business structure in which every partner is liable only for his or her own activities and at least partially liable for the partnership as a whole is known as a? __________.

When a firm is considering whether to buy a new piece of equipment with retained earnings, the amount of interest that could be earned on that money is an explicit cost and should be treated as such

Indicate whether the statement is true or false

The change in cost resulting from producing one additional unit of output is

a. average total cost b. total variable cost c. average variable cost d. marginal cost e. total cost