The disadvantages of proprietorships include
A) limited liability for the owner.
B) double taxation of business profits.
C) the fact that the proprietorship can continue even after the owner dies.
D) the fact that the proprietor is solely responsible for all the firm's debts.
Answer: D
Economics
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For which of the following goods does the income elasticity of demand most clearly exceed unity?
A. Public goods like roads and bridges B. Food grains C. Luxury automobiles D. Lifesaving drugs
Economics
Monopolization of the labor market restricts output because
A) fewer workers offer their services. B) the higher wage raises the firm's marginal cost. C) monopolized workers are less productive. D) a monopolized labor market means there is also a monopolized output market.
Economics