The three basic legal forms of business enterprise in the United States are
A) monopolies, enterprises, and competitors.
B) vertical, horizontal, and conglomerate corporations.
C) national, global, and multinational corporations.
D) proprietorships, partnerships, and corporations.
D
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If both the demand for a product and the supply of it increase, then the equilibrium quantity will ________ and the equilibrium price will ________.
A) decrease; increase B) decrease; decrease C) decrease; remain constant D) increase; either increase, decrease, or remain constant
According to the theory of cost, specialization in the use of variable resources in the short-run results initially in:
a. decreasing returns and declining average and marginal costs b. increasing returns and declining average and marginal costs c. increasing returns and increasing average and marginal costs d. decreasing returns and increasing average and marginal costs e. none of the above