Which of the following is unique to the corporate form of business organization?
a. hiring and firing workers
b. borrowing funds for expansion
c. production of goods and services
d. limited liability for the firm's debts
e. ability to plow profits back into the firm
D
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In a marketplace, the rental price of apartments is determined by:
A) negotiations between landlords and regulators. B) negotiations between renters and regulators. C) negotiations between renters and landlords. D) negotiations between politicians and regulators.
The monthly mortgage payments made by a homeowner are
A) always sunk costs because the costs of constructing the house lie entirely in the past. B) marginal costs if the house is new but sunk costs if it was purchased from a previous owner. C) marginal costs of continuing to own and occupy the house. D) not marginal costs because the house will continue to exist whether or not the payments are made. E) sunk costs only if all the bills for earlier construction work have been fully paid.