Multiple Choice
Economic profits and losses
A) are both considered by economists to be a part of production costs.
B) are essential to the reallocation of resources from less desired to more desired goods.
C) have no influence on the composition of domestic output.
D) equalize the distribution of income in the long run.
Correct Answer:
Verified
Correct Answer:
Verified
Q33: An increase in consumer desire for strawberries
Q111: "Consumer sovereignty" means that<br>A) buyers can dictate
Q155: The market system is also known as
Q181: Answer the question based on the following
Q183: The following table illustrates alternative production techniques
Q185: If competitive industry Z is making substantial
Q188: If consumer desire for product X increases,
Q189: Which of the following is a characteristic
Q191: College graduates who dislike business risk will
Q266: Of the following countries, which one best