Economic profit might result from

Name: Economic profit might result from
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Economic profit results from dynamic change and uncertainty as it creates opportunities for businesses to achieve high returns on investment. In industries with easy entry, competition increases, leading to reduced profits. X-inefficiency occurs when a business produces at higher costs than necessary, leading to reduced profits. A decline in entrepreneurship would result in a decrease in economic profit.

Economic Profit Might Result from