A Class of Stock for Which There Is No Minimum

question 125

Multiple Choice

A class of stock for which there is no minimum legal capital is called:

• A)Convertible stock.
• B)No-par stock.
• C)Callable stock.
• D)Noncumulative stock.
• E)Discounted stock.

---

Definitions:

Economic Rent

Any payment to a resource provider or seller of output in excess of the economic cost (opportunity cost) of providing that resource or output.

Economic Rent

The extra income earned by a resource over and above its opportunity cost, often due to natural advantages or market conditions.

Inelastic Demand Curve

Represents a situation where the demand for a product changes by a smaller percentage than changes in its price, indicating consumers' insensitivity to price changes.