A software company writes a better operating system for personal computers and earns very large profits on this operating system. Which of the following is true?
A) The profits this firm earns are a return for an innovation.
B) The profits this firm earns aren't deserved, as the firm did not take any risks.
C) This firm must not be in a competitive market if it was able to earn a profit.
D) The firm must be a monopoly.
Correct Answer:
Verified
Q154: In the capital market, households _ savings
Q155: You lend a friend $20,000 for a
Q156: You agree to lend _ to a
Q157: Assume that the current interest rate is
Q158: GM decides to build a new plant
Q160: You lend a friend $10,000 for a
Q161: The net income of a firm is
Q162: Related to the Economics in Practice on
Q163: A fund that takes household savings and
Q164: You borrow $20,000 at an interest rate
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents