1)The firm that is taxed twice is

Select one:

a.A partnership

b.A proprietorship

c.A corporation

d.a proprietorship and a partnership

2)The firm where managerial decision making Is simple is

Select one:

a.Only a proprietorship

b.A partnership and a corporation

c.A proprietorship and a partnership

d.Only a partnership

3)Which of the following statements is true tor both Samsung and a locally owned Hotel

Select one:

a.Both are perfect competitors.

b.Neither firm can influence the price of their products.

c.Both confront perfectly elastic demand for their products.

d.Both seek to maximize profits.

4)Suppose the household consumption of a good Increased from 8 units to 9 units and as a result its total utility increased from 210 to 250, then the marginal utility is

Select one:

a.40

b.25

c.4

d.550

5)if the price of good X Increases by 2 percent results in a 20 percent decrease in the quantity demanded of good X, then the price elasticity of demand for good X is

Select one:

a.0.2

b.10

c.40

d.0.1