_____ Can Be Considered as Both an Advantage and a Disadvantage

question 23

Multiple Choice

_____ can be considered as both an advantage and a disadvantage of a sole proprietorship.

• A)Taxation
• B)Transparency
• C)Secrecy
• D)Continuity
• E)Liability

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Definitions:

Economic Profit

The profit a company makes after deducting both its explicit (direct) and implicit (opportunity) costs; it's a more comprehensive measure than accounting profit.

Allocative Efficiency

The optimal distribution of resources in a market where goods and services are dispensed according to consumer preferences.

Monopolistic Competition

A market structure where many companies sell products that are similar but not identical, allowing for significant competition but with some control over prices.