Entrepreneurs are the residual claimants at their respective firms. This means that they: a. Only get paid if there is any money left over after all the other factors of production have been paid. b. Must bear the financial risks of running their firms. c. Receive whatever accounting profits or losses their firms generate. d. All of the above
Entrepreneurs are the residual claimants at their respective firms. This means that they: a. Only get paid if there is any money left over after all the other factors of production have been paid. b. Must bear the financial risks of running their firms. c. Receive whatever accounting profits or losses their firms generate. d. All of the above
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter3: Demand, Supply, And The Market Process
Section: Chapter Questions
Problem 11CQ
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Entrepreneurs are the residual claimants at their respective firms. This means that they: a. Only get paid if there is any money left over after all the other factors of production have been paid. b. Must bear the financial risks of running their firms. c. Receive whatever accounting
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