Suppose that shortly after graduating from college you decide to start your own business. Assuming you are starting a small business and realize that you need someone with particular expertise or business skills, which category of firm are you most likely to start?A. Sole proprietorship. B. Partnership. C. Corporation. D. All of the above are equally alike. E. A and C are more likely than B.

Answers

Answer 1
Answer:

Answer:

Partnership

Explanation:

A partnership is a business established by two or more people, who are co-owners of the partnership.

Some of the advantages of setting a partnership over a sole proprietorship are:

  1. greater financial capability since all the co-owners invest in the partnership instead of just the sole proprietor
  2. the skills and expertise of the partners can be combined

Some of the advantages of setting a partnership over a corporation are:

  1. Much easier and less expensive to setup and organize
  2. A partnership is a more personal business, it's your business, not someone else's


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A local store estimates its typical customer's inverse demand is P=6.07−2.1Q, and it knows the marginal cost of each rental is $0.64. How much will they sell to each customer it engages in optimal two-part pricing? (use decimals) Answer:

Answers

To find the optimal quantity to sell to each customer in a two-part pricing strategy, we need to calculate the quantity at which marginal cost equals the marginal revenue. In this case, the marginal cost is given as $0.64 and the inverse demand equation is \(P = 6.07 - 2.1Q\).

Marginal cost (\(MC\)) equals marginal revenue (\(MR\)) when the quantity (\(Q\)) sold to each customer is such that \(MC = MR\).

Given that \(MC = 0.64\), we need to solve for \(Q\) when \(MR = P\):

\[MR = P\]
\[MR = 6.07 - 2.1Q\]

Set \(MC\) equal to \(MR\):

\[0.64 = 6.07 - 2.1Q\]

Now, solve for \(Q\):

\[2.1Q = 6.07 - 0.64\]
\[Q = \frac{6.07 - 0.64}{2.1}\]

Calculate the value of \(Q\) to find the optimal quantity to sell to each customer:

\[Q \approx 2.559\]

So, the store will sell approximately 2.559 units to each customer in optimal two-part pricing.

Final answer:

The store will sell approximately 2.586 units to each customer it engages in optimal two-part pricing.

Explanation:

To determine the optimal quantity to sell to each customer using two-part pricing, we need to maximize the store's profit. The profit can be calculated as the difference between the total revenue and the total cost.

The total revenue is given by the product of the price (P) and the quantity sold (Q):

Total Revenue = P * Q

The total cost is the sum of the fixed cost (the fixed fee) and the variable cost (the variable fee based on the quantity sold). In this case, the fixed cost is not given, so we can assume it to be zero.

The variable cost is the product of the marginal cost per rental and the quantity sold:

Variable Cost = Marginal Cost * Q

To maximize profit, we need to find the quantity that maximizes the difference between total revenue and total cost.

Let's differentiate the profit function with respect to Q and set it equal to zero to find the critical point:

d(Profit)/dQ = d(Total Revenue)/dQ - d(Total Cost)/dQ = 0

Since the fixed cost is assumed to be zero, the derivative of the total cost with respect to Q is equal to the derivative of the variable cost with respect to Q, which is the marginal cost:

d(Total Cost)/dQ = Marginal Cost

Now, let's differentiate the total revenue function with respect to Q:

d(Total Revenue)/dQ = d(P * Q)/dQ = P

Setting the derivative of profit equal to zero:

P - Marginal Cost = 0

Substituting the given values:

6.07 - 2.1Q - 0.64 = 0

Simplifying the equation:

5.43 - 2.1Q = 0

Subtracting 5.43 from both sides:

-2.1Q = -5.43

Dividing both sides by -2.1:

Q = 2.586

Therefore, the optimal quantity to sell to each customer using optimal two-part pricing is approximately 2.586.

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_______ refers to the value that stockholders or owners have in a company. Assets.
Liabilities.
Owners' equity.
Contra receivables.

Answers

Owner's equity refers to the value that stockholders or owners have in a company. 

In the Wealth of Nations, Adam Smith said that one reason specialization makes someone more productive is because "a man commonly saunters a little in turning his hand from one sort of employment to another." How can you use this observation to improve your pattern of studying for your four or five college courses this semester?

Answers

Answer:

Explained below:

Explanation:

We can use this observation to improve our pattern of studying for our four or five college courses this semester by following ways:-

1. We must study all of our courses each day, giving one hour to each.

2. We must give entire days to studying for each course instead of turning backward and forward between subjects during the day.

3. We must take only more classes each semester that have absolutely nothing to do with one another, going through these instructions we can improve our productivity during studying for different type of courses.

The value obtained when a buyer pays cash or its equivalent, the buyer and seller are unrelated, the buyer and seller are informed consumers, and the property has been on the market for a reasonable amount of time is called:

Answers

Answer:

Appraisal

Explanation:

Appraisal in real estate is the sales value of an asset derived towards potential sales in an arm length transaction. This involves a unique appraising process pertaining to the affected property considering the fact that different homes are not of the same features and properties , and moreover , sales of home does not occur regularly as in the common market.

The appraising process involved in forming an appraisal value are

  1. Buyer pays cash or its equivalent
  2. Buyer and seller are not related
  3. Buyer and seller are informed consumer
  4. Property has been on the market for a reasonable time

Final answer:

The value obtained in the aforementioned conditions is referred to as the fair market value. It represents the price at which an informed buyer and seller would agree upon, where neither party is under duress and the property has been listed for a reasonable duration.

Explanation:

The value obtained under the conditions described in the question is called the fair market value. The fair market value is a measure used in the free market economy, it represents the price at which property, in this case, would change hands between a willing buyer and a willing seller, neither of whom is under any compulsion to buy or sell, both parties having reasonable knowledge of the necessary facts pertinent to the transaction. For example, if you were selling your car, the fair market value would be the price a buyer who knows about cars and has other options would be willing to pay for it, after your car had been listed for sale for an appropriate amount of time.

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Which is true for a limited partnership? Only one partner is required to be a general partner. All partners are required to invest an equal amount of money. All partners actively manage the business. All partners have unlimited liability

Answers

The answer that is true for a limited partnership is that only one partner is required to be a general partner, while the other one doesn't have to be. 

Answer: A. Only one partner is required to be a general partner.

Explanation:

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The government has antitrust laws, which _____ competition and offer patents which _____ competition.

Answers

The government has antitrust laws, which increase competition and offer patents which decrease competition. 

The government has antitrust laws, which increase competition and offer patents which decrease competition. An antitrust law is a law that is bound by the federal and state government that is used to promote fair competition for consumer benefits. These laws came about so that different businesses couldn't make agreements with others to limit competition. A patent gives the rights to one person or company to be in charge of using or selling a specific item.