What characteristic is shared by both sole proprietorships and partnerships?
a. They both tend to be large businesses.
b. They both face unlimited liability.
c. They both have just one owner.
d. They both face limited liability.
e. They both have just two owners.
B
Economics
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Which of the following is the best example of an artificially scarce good?
a. premium cable channels b. lobster c. college classes d. gasoline
Economics
The above figure shows the isoquants for producing steel. Constant returns to scale are
A) present when producing less than 10,000 tons. B) present when producing between 10,000 and 20,000 tons. C) present when producing more than 20,000 tons. D) never present.
Economics