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Refer to the following graph.The price of capital r) is $20. What is the lowest possible cost of producing 5,000 units of output?
Shareholders
Individuals or entities that own shares in a corporation, thus having a claim on part of its assets and earnings.
Legally Liable
Being subject to legal responsibility or obligation, particularly in the context of lawsuits or compensations.
Sole Proprietorship
A business ownership structure where a single individual owns, operates, and is responsible for all aspects of the business.
Personally Liable
The legal responsibility of an individual to compensate for debt or obligation from personal assets, not through corporate or shared assets.
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