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Vlad1618 [11]
3 years ago
12

Raymond and his brother decided to open a computer repair shop together. This is an example of which type of business structure?

Choose the answer.
limited liability company
partnership
corporation
sole proprietorship
Business
1 answer:
trasher [3.6K]3 years ago
4 0

Answer:

partnership

Explanation:

A partnership business is formed when two or more people agree to start a business together. They become partners in the business. The partners share in the responsibilities of running the business as agreed in the partnership agreement. Profit and losses are distributed to the partners using an agreed formula.

Forming a partnership is less complex than a corporation. Typically partnerships are started by friends or acquaintances with shared business visions.

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notsponge [240]

Answer:

equilibrium market price = 40

Number of firms in the industry = 240

Explanation:

Let we assume the number of firms be N

And, at equilibrium

Marginal cost = market price

2Q = P i.e market price .....................(i)

Also demand = supply at equilibrium  point

which equals to

= 240 × (P ÷ 2) = N × Q.......(ii)

So,

from (i) and (ii)

N i.e Number of firms in the industry = 240

since Q i.e Quantity =20 units

So,

P = 2Q

 = $40

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4 years ago
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