Profits and losses play an important role in helping
A) to signal to government which businesses are suffering losses so that they can be subsidized.
B) consumers decide which products they value the most by looking at each firm's profit.
C) to allocate scarce resources in a manner that maximizes the value created to society.
D) ensure that the total profits in the economy exactly equal the total losses.
Correct Answer:
Verified
Q287: To be economically successful, the entrepreneur must
A)
Q288: According to the law of supply, as
Q289: Graphically, the area that represents the difference
Q290: Profit can be defined as the
A) difference
Q291: Which of the following events would increase
Q293: When a firm is earning economic profit,
Q294: Which of the following events would decrease
Q295: The height of the supply curve at
Q296: Table 3-2 Q297: Table 3-2
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