Trevor Is in His Early 60s but Still Wants to "Strike

question 109

Multiple Choice

Trevor is in his early 60s but still wants to "strike out on his own" by starting a new business.One roadblock he may face is:

• A)resistance from creditors to lend money for the enterprise.
• B)resistance from his heirs about the distribution of assets at his death.
• C)resistance from customers who fear he may become ill and unable to fulfil their orders.
• D)resistance from the government regarding his tax identification number.

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Definitions:

Marginal Cost

The extra expenditure linked to producing one more unit of a product or service.

Marginal Benefit

The additional benefit received from consuming one more unit of a good or service.

Overproduction

The condition where production exceeds the demand, leading to surplus inventory, lower prices, and potential economic inefficiencies.

Marginal Benefit

The additional satisfaction or utility gained by consuming or producing one more unit of a good or service.