How do the owners of a corporation relate to the business? A) ...

[kamilo84]

How do the owners of a corporation relate to the business?
 
  A) The assets of the owners are considered the same as the assets of the business.
  B) The owners and the business are not separate legal entities.
  C) The owners and the business are separate legal entities.
  D) None of these describe the legal relationship of the owners to the business.

Question 2

Refer to Figure 4-7. The figure above represents the market for iced tea. Assume that this is a competitive market. If 20,000 units of iced tea are sold
 
  A) the marginal benefit of each of the 20,000 units of iced tea equals 3.
  B) producer surplus equals consumer surplus.
  C) marginal benefit is equal to marginal cost.
  D) the deadweight loss is equal to economic surplus.

[nathang24]

Answer to Question 1

C

Answer to Question 2

C

[kamilo84]

Thanks for the timely response, appreciate it

[softEldritch]

YES! Correct, THANKS for helping me on my review