At this price point, the company sold 1.5 million units indicating that demand for the product is elastic.
A corporation, sometimes called a co-ownership, is the legal term for a natural organization of legally formed people or a combination of the two. Company members work together to achieve clearly defined goals.
A corporation can be incorporated as a legal entity with limited liability as long as the members of the company meet or fail to fulfill their responsibilities under the Incorporation or Public Disclosure Policy. If a company goes out of business, it may need to be liquidated to meet its obligations.
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