Explanation

The sole proprietorship or the one man business would be recommended for -a tailor. This is because:

(i) It is easy to set up.

(ii)The capital required is not large for that type of business.

(iii)The tailor can easily manage the operation

without expert management from outside.

(iv) Tailors serve fragmented markets in West Africa and as such, a large operation would therefore, not be necessary

(v) Tailors need to be very familiar with their customers. The sole proprietorship is particularly suited for this.

(vi) The sole proprietorship can easily handle changing fashion and taste which the tailor's job entails.

Correct Answer: C. non-restriction of international trade

Correct Answer: C. gained

Correct Answer: D. capital is easily available in rural areas

Explanation

(a)

MUn = TUn -Tu or MU = \(\frac{\DeltaTU}{\DeltaQ}\

(b)(i) 7 oranges, (ii) 3 mangoes

(c) (i) As a consumer consumes successive units of a commodity, a point is eventually reached where consumption of an additional unit yields less satisfaction.

(ii) \(\frac{MUo}{Po}\) = \(\frac{MUm}{Pm}\)

Where O = Oranges

m = Mangoes

mu = Marginal Utility

P = Price

OR \(\frac{Muo}{Mum}\) = \(\frac{Po}{Pm}\) OR Muo = Po ffor single good.

Correct Answer: C. resources are limited in supply

Correct Answer: D. federal, state and local governments

Correct Answer: A) Former is limited to fifty shareholders but not the latter

Explanation

The question is asking how private and public limited liability companies are different. The options provide different statements, and we need to choose the correct one.

The correct option is Option A, which says that private limited liability companies are limited to fifty shareholders, while public limited liability companies are not.

A limited liability company is a type of business structure where the owners (shareholders) are not personally liable for the company's debts. This means that if the company goes bankrupt or is sued, the shareholders' personal assets are protected.

Private limited liability companies are often smaller and have fewer shareholders, while public limited liability companies are larger and have more shareholders. Public limited liability companies can also raise capital by selling shares to the public, while private limited liability companies cannot.

It is important to note that both private and public limited liability companies are legal entities, which means that they can enter into contracts, own property, and sue or be sued in court.

To summarize, private and public limited liability companies differ in the number of shareholders they can have, with private limited liability companies being limited to fifty shareholders. Both types of companies are legal entities, which means they have legal rights and responsibilities.

Correct Answer: B. sales tax

Explanation

Indirect taxes are those taxes that can be shifted from one individual to another. It is not levied directly on the income of the taxpayer, but is levied on the expenses incurred by them. These include taxes such as sales tax and excise duties.

Correct Answer: B. negotiation