Which of the following are benefits enjoyed by sole proprietorships? Select the two correct answers. (1 point) control of decision-making limited liability unlimited liability easy access to credit low regulatory burden What primary responsibility do the shareholders of a corporation have? (1 point) overseeing production providing their own labor for the production process electing a board of directors O hiring management to oversee production You have recently discovered that a local business has been designated 501(c)(3). Which of the following must be true? (1 point) The business has federal tax exemptions. The business is a private foundation. The business is a public charity. The business does not earn profits. Which of the following benefits do franchisees enjoy over other small business owners? Select the two correct answers. (1 point) ) Franchises have a lower 5-year failure rate than other small businesses. )Franchises are less expensive to operate than other small businesses. Franchises have more control over the goods and services that they provide. Franchises have lower start-up costs than other small businesses. ) Franchises benefit from the successful marketing provided by franchisors. Which of the following could explain the relatively high wages earned by certain medical professionals, like nurse practitioners and physicians? (1 point) The age of our population leads to a relatively high quantity of labor supplied at any given wage. O The training and certifications required for these professions lead to a relatively high quantity of labor supplied at any given wage. O The age of our population leads to a relatively low quantity of labor demanded at any given wage. O The training and certification required for these professions lead to a relatively low quantity of labor supplied at any give wage. In arbitration, what do leaders of the labor union and the representatives of company management agree to? (1 point) O to negotiate with one another and to understand that management reserves the right to make binding decisions for both parties O to bring a third party into their negotiations who has the ability to make binding decisions O to bring a third party into their negotiations who will help them negotiate, but who does not have the power to make binding decisions O to negotiate with one another and to understand that the labor union reserves the right to make binding decisions for both parties