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One potential problem with acquiring funds from friends and relatives is that they might feel they have the right to interfere in the management of the business.
Larger Bequest
Pertains to a greater amount of money or property left to someone in a will, highlighting the concept in inheritance and estate planning.
Marginal Tax-Rate
The rate at which the next dollar of taxable income is taxed.
Substitution Effect
The change in consumption that results when a price change moves the consumer along a given indifference curve to a point with a new marginal rate of substitution.
Income Effect
The change in consumption that results when a price change moves the consumer to a higher or lower indifference curve
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