Refer to the Information Provided in Figure 9

question 78

Multiple Choice

Refer to the information provided in Figure 9.5 below to answer the question that follows. Figure 9.5
-Refer to Figure 9.5. From the diagram, existing firms in this industry make ________ economic profits, and as long as this continues, ________.

• A) negative; new firms will not enter it and existing firms will leave it
• B) zero; new firms will not enter it and existing firms will not leave it either
• C) positive; new firms will enter the industry and existing firms will not leave it
• D) positive; the industry supply curve will shift to the left

Recognize the federal income tax considerations for partnerships.

Analyze the evidentiary value of written agreements versus actions in forming a partnership under RUPA.

Evaluate the impact of business structure choice on liability and control.

Understand the concept and implications of purported partnership and liability.

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Definitions:

Routine Expertise

The proficiency gained in performing tasks or activities that are regular and repetitive, leading to efficiency and consistency.

Specific Behaviours

Observable actions or reactions of an individual in particular situations, distinguished by their precision and context.

Similar Settings

Environments or circumstances that share common characteristics or conditions, potentially allowing for comparable observations or experiments.

Error Training

A learning strategy that involves allowing learners to make mistakes during training in order to enhance learning through direct experience, problem-solving, and correction.