An LLC That Was Organized in Alabama and Operating in Texas

question 46

Multiple Choice

An LLC that was organized in Alabama and operating in Texas with no operations outside the U.S.is considered a ________ in Texas.

• A)foreign limited liability company
• B)limited liability partnership
• C)domestic limited liability company
• D)general partnership

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Definitions:

Unit Elastic

A situation when a change in price leads to an equal proportional change in quantity demanded or supplied.

Elasticity of Demand

A gauge of the degree to which a change in price impacts the demanded amount of a good or service.

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, typically expressed as a percentage.

Slightly Elastic

Slightly elastic refers to a situation where a small change in price leads to a relatively small change in the quantity demanded or supplied.