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Assume you set up a sole proprietorship and your lawyer tells you that as the owner you will face unlimited liability. What does that mean? You are liable for organizing the business. You could stand to lose your personal wealth if the business goes bankrupt There is no legal responsibility of the business in case a customer sues, as the business is legally untouchable. None of these explain what unlimited liability means How does the owner of a corporation relate to the business? The owners of the business have a separate legal distinction from the business The owners of the business have no separate legal distinction from the business The personal assets are part of the corporations assets. None of these describe the legal relationship of corporate owners to the business What is the present value of $888 in a one year if the current rate of interest is five percent? $4,440 $845.71 $177.60 none of these How much is a bond that pays $50 in coupon payments for 3 years and $1,000 at the end of the third year worth if the interest rate is 10%? $952 $1,150 $876 $1,045 Jake sells Star Wars memorabilia on eBay. His annual revenue is $42,000 per year, the explicit costs of his business are $10,000, and the economic costs of his business are $18,000 per year. What is his economic profit? $24,000 $32,000 $34,000 $14,000 If Canada has a comparative advantage relative to Mexico in the production of timber then the explicit cost of production for timber is lower in Canada than in Mexico the opportunity cost of production for timber is lower in Canada than in Mexico the implicit costs of production for timber are lower in Canada than in Mexico the average cost of production for timber is lower in Canada than in Mexico the average cost of production for timber is lower in Canada than in Mexico 25 utility units 20 utility units 5 utility units. unknown as more information is needed to determine the answer Quantity of Pita Wraps Total Utility Quantity of Bubble Tea Total Utili