Solved

Why Do Customers Play a Big Role in Economic Profits

Question 114

Essay

Why do customers play a big role in economic profits? Profits accrue to firms because customers are willing to pay a certain price for a product or service,as opposed to a competitor's product or service of a higher or lower price.Medium;Application

Correct Answer:

verifed

Verified

Profits accrue to firms becaus...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents