A Corporation Is Owned by

question 71

Multiple Choice

A corporation is owned by

• A) shareholders and partners.
• B) the shareholders who hold the company's stock.
• C) the Board of Directors
• D) its Chief Executive Officer.

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Definitions:

Point Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price at a specific point on the demand curve.

Market Supply Curve

A graphical representation showing the total quantity of a particular good or service that producers are willing to sell at various price points.

Rubber Erasers

Small, often rubbery objects used for removing pencil and sometimes ink marks from paper.

Consumer Surplus

The disparity between the total cost consumers are inclined and able to bear for a good or service and the total cost they actually bear.