An advantage of the partnership form of business organization is
A) its limited liability.
B) its limited access to capital, thus reducing the possible size of debt.
C) the ability of its owners to specialize.
D) that it is difficult to start up, because a lot of thought has to go into the establishment of the firm.
C
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If the demand for a good is elastic, a decrease in its price will result in additional revenue because the increase in quantity more than offsets the decrease in price
a. True b. False Indicate whether the statement is true or false
Economics is the study of
A. how much people should sell and the prices they should be willing to accept. B. the allocation of the world's freely available resources and who should get them. C. how much people should buy and the prices they should be willing to pay. D. the allocation and use of scarce resources to satisfy unlimited human wants.