Answer: The profits would be shared equally
Explanation: This is because
Since there was no agreement stating how profits would be divided,then the applicable state Limited Liability Company statute will rule. Most LLC statutes states that if members do not specify how profits are to be divided, they will be divided equally. As long as no operating agreement or LLC statute addressed the particular issue, the partnership law applys which also indicates that profits should be divided equally among the owners of a firm unless it was specified otherwise.
Control of a key resource is the barrier to entry of the startup of a major league sports team because existing professional teams have contracts with the best players and long-term leases on stadiums.
<h3>What is the barrier of control over key resources?</h3>
A monopoly is a market in which there is only one seller or a few sellers and no close substitutes for the seller's product or service. The term "monopoly" is technically applied to the market as a whole, but it is now widely applied to the sole vendor in a market as well.
The market may become a monopoly when one team has major control over a resource required for the startup of a team.
Thus, Control of a key resource is the to entry.
For further details about the control of a key resources, click her:
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Answer:
<em>The output is represented along OX and cost along OY; AFC curve represents average fixed cost. AVC curve represents average variable cost, ATC curve represents average total cost (i.e., total of AFC and AVC and is called AC, i.e., average cost). MC curve represents marginal cost</em>
Explanation:
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Front end load, hope this helped :)
<span>Price ceilings prevent a price from rising above a certain level.When a price ceiling is set below the equilibrium price, quantity demanded will exceed quantity supplied, and excess demand or shortages will result.Price floors prevent a price from falling below a certain level.When a price floor is set above the equilibrium price, quantity supplied will exceed quantity demanded, and excess supply or surpluses will result.When government laws regulate prices instead of letting market forces determine prices, it is known as price control.</span>
