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A Sole Proprietorship Form of Business Has Only One Owner

question 21

True/False

A sole proprietorship form of business has only one owner.


Definitions:

Marginal Revenue

The extra income a company earns by selling an additional unit of a product or service.

Slope

The measure of the steepness or/incline of a line, representing the ratio of the vertical change to the horizontal change between two points on the line.

Average Revenue

The revenue generated per unit of output sold, calculated by dividing total revenue by the number of units sold.

Marginal Revenue

The extra revenue generated from the sale of an additional unit of a product or service.

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