Bo and Clancy Decide to Do Business as Dynamo Production

question 41

Multiple Choice

Bo and Clancy decide to do business as Dynamo Production Associates.To be a partnership,this association can result from an agreement that is

• A)express,but not from an agreement that is implied.
• B)implied,but not from an agreement that is express.
• C)oral,written,or implied by conduct.
• D)written,but not from an agreement that is oral or implied.

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Definitions:

Marginal Benefit

The additional benefit received from consuming or producing one more unit of a good or service.

Perfectly Elastic

A market scenario where the demand or supply responds infinitely to any change in price.

Optimal R&D

Refers to the ideal level of spending or investment in research and development activities that maximizes innovation benefits relative to costs.

Expected-Rate-Of-Return

The predicted amount of gain or loss an investment is expected to generate, expressed as a percentage.