Data Analytics, LLC, Is a Limited Liability Company

question 34

Multiple Choice

Data Analytics, LLC, is a limited liability company. Unless the articles of organization specify otherwise, it will most likely be assumed that the firm is​

• A) ​member-managed.
• B) ​manager-managed.
• C) ​an aggregate of member and non-member managers.
• D) ​run by an outside professional management group.

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Definitions:

Elasticity

A measure of how much the quantity demanded or supplied of a good responds to changes in prices, income, or other economic factors.

Price Elasticity

A measure of how much the quantity demanded of a good changes in response to a change in its price.

Inelastic Supply

A situation in which the supply of a good or service is not significantly affected by changes in price, characterized by a relatively steep supply curve.

Underage Drinking

The consumption of alcoholic beverages by individuals below the legal drinking age in their respective jurisdictions.