Jen and Kay Would Like to Form Lunch Garden, Inc

question 22

Multiple Choice

Jen and Kay would like to form Lunch Garden, Inc., to enter the food vending business. Most likely, the articles of incorporation for the firm will not include​

• A) ​the corporate name.
• B) ​the name and address of a registered agent.
• C) ​the number of shares that the corporation is authorized to issue.
• D) ​the minutes of the first organizational meeting.

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Definitions:

Nondiscriminating Monopolist

A monopolist that charges all consumers the same price for its product or service, as opposed to charging different prices based on consumer attributes or willingness to pay.

Profit-Maximizing

is the process of determining the best output and pricing levels to achieve the highest profit.

Demand Curve

A graphical representation showing how the quantity demanded of a good or service varies with its price.

Economic Profit

The difference between the total revenue earned by a business and the total costs, including both explicit and implicit costs.