By the percentage of each type of business organization in the United States, rank sole proprietorships, partnerships, and corporations in terms of the number of firms, revenue, and profits
What will be an ideal response?
In terms of the number of firms, sole proprietorships comprise 72% of U.S. businesses, corporations comprise 18%, and partnerships 10%. In terms of revenue, corporations earn 82%, partnerships 14%, and sole proprietorships 4%. In terms of profits, corporations earn 60%, partnerships 26%, and sole proprietorships 14%.
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Mr. Rogers sells colored pencils. The colored-pencil industry is competitive. Mr. Rogers hires a business consultant to analyze his company's financial records. The consultant recommends that Mr. Rogers increase his production. The consultant must have concluded that Mr. Roger's
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