The figure above shows the marginal revenue, marginal cost, and demand curves for an airline offering daily flights between Los Angeles and Toronto. If the airline is regulated using a marginal cost pricing rule total surplus will be ________

What does limited liability mean?

A) The personal assets of the owners cannot be claimed if the business is bankrupt. B) Anybody with a liability against a firm can claim only what their liability refers to. C) The owners of the business are personally responsible for paying expenses incurred by the business. D) Only employees can have a claim on the assets of the business.

Real estate is property, which can be either a tangible or an intangible asset. Which of the following would be considered an intangible asset?

A. Land B. Building C. Mortgage D. Fence