Coco Is Considering Forms of Business Organization for Her Concessions

question 4

Multiple Choice

Coco is considering forms of business organization for her concessions business-Coco's Cupcakes. Most states require that a limited liability company have

• A) no minimum number of members.
• B) at least one member.
• C) at least two members.
• D) at least three members, including at least one general partner.

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Definitions:

Marginal Value Curve

A curve showing how the value or utility of consuming an additional unit of a good changes as the quantity consumed changes.

Price

The sum of money anticipated, needed, or provided in exchange for something.

Oligopsony Market

A market form in which the number of buyers is small while the number of sellers in theory could be large, giving the buyers significant control over prices and terms.

Buyers

Individuals or entities that purchase goods or services for personal use or for resale.