The Maximum Amount That Can Be Borrowed Under an SBA

question 78

Multiple Choice

The maximum amount that can be borrowed under an SBA 7(a) loan is:

• A)$750,000
• B)$1,000,000
• C)$1,500,000
• D)$5,000,000

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Definitions:

Average Variable Cost

The cost per unit of output that varies with the level of production, excluding any fixed costs.

Learning-by-Doing

The process through which skill and efficiency are improved over time as a result of practice and experience.

Economies of Scale

The cost advantage that arises with increased output of a product, where the average cost per unit decreases as the scale of production expands.

Technological Advance

Progress in technology that improves efficiency and productivity, often leading to economic growth.