Refer to the Information Provided in Figure 3

question 71

Multiple Choice

Refer to the information provided in Figure 3.14 below to answer the question(s) that follow. Figure 3.14
-Refer to Figure 3.14. The market for sunglasses is in equilibrium at a price of ________ and a quantity of ________ sunglasses.

• A) $30; 300
• B) $30; 600
• C) $60; 450
• D) $90; 300

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Definitions:

Sole Proprietorship

A type of business structure where a single individual owns, manages, and is responsible for all aspects of the business, including debts.

Proprietor

The owner of a business or property.

Liabilities

Financial obligations or debts owed by a person or company to another entity, which must be settled over time.

Franchise Rule

is a regulation designed to provide prospective franchisees with the necessary information to make informed decisions about their investments in franchise operations.