Use the Following to Answer Questions 26-28

question 44

Multiple Choice

Use the following to answer questions 26-28:
Figure 5.15
-(Figure 5.15) What type of good is good X?

• A) I and III
• B) III
• C) II and III
• D) I

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Definitions:

Shareholders

Individuals or entities that own shares in a company, giving them partial ownership and potentially a say in company decisions depending on the type of shares held.

Sole Proprietorship

A business owned and operated by a single individual, with no legal distinction between the owner and the business entity.

Legal Structure

Pertains to the type of legal organization an entity chooses for the formation of their business, such as a corporation, partnership, limited liability company (LLC), or sole proprietorship.

Sole Proprietorship

A business structure where a single individual owns, operates, and is personally responsible for all aspects of the business.