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-Refer to Figure 15-3.Which of the following most likely caused the shifts from AE1 to AE2,and from AD1 to AD2?
Joint Venture Firm
A business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance.
Sole Proprietorship
A company that is owned and run by just one person, with no legal separation between the owner and the business itself.
Limited Liability Company
A business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.
Discretionary Income
The amount of an individual's income left for spending, investing, or saving after taxes and basic necessities have been paid.
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