If managers of a private corporation perform poorly, each owner has the option of
a. closing down the firm
b. selling her share of the firm
c. managing the firm herself
d. paying no taxes on the little profit she does receive
e. selling off the plant and equipment of the firm
B
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To achieve ________, marginal cost ________ marginal benefit
A) production efficiency; must equal B) production efficiency; must be greater than C) allocative efficiency; must be greater than D) allocation efficiency; must be less than E) allocative efficiency; must equal
Edward Denison's analysis of the American economy found that
A) total factor productivity was the largest source of economic growth since 1948. B) the contribution of labor growth has been more variable than the contribution of capital growth. C) productivity growth has been positive over every period of more than five years since WorldWar II. D) the contribution of labor growth has been greater than the contribution of capital growth.