All of the Following Statements About Megacorporations Are Correct Except

question 13

Multiple Choice

All of the following statements about megacorporations are correct except:

• A)many of them generate more money than whole countries.
• B)they are often subject to open records and must disclose many internal affairs.
• C)they are the products of the technological revolution.
• D)they are such large businesses that they can often ignore and change the plans of government where they operate.
• E)they are controlled by wealthy capitalists.

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Definitions:

Variable Cost

Expenses that fluctuate with the level of output or business operations, contrasting with fixed costs.

Fixed Cost

Costs that do not change with the level of output produced, such as rent, salaries, and insurance premiums.

Economic Profit

The difference between total revenue and total economic costs (including both explicit and implicit costs), reflecting a firm's financial performance.

Perfectly Competitive

A market structure characterized by many buyers and sellers, no barriers to entry, and a homogeneous product.