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Author Question: If a business produces and sells only one unit of a good, its profit would be the a. price received ... (Read 26 times)

Jipu 123

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on: Jul 1, 2018
If a business produces and sells only one unit of a good, its profit would be the
 a. price received for the good
  b. price of the product minus the cost of the resources used to produce the product
  c. return paid to the firm's bank on its outstanding loans
  d. price of the product minus the wages paid for the labor used to produce it
  e. wages paid for the labor used to produce the product minus the price

Question 2

An entrepreneur
 a. always makes a profit
  b. generally avoids risky situations
  c. claims the residual (i.e., whatever is left over) after other resource suppliers are compensated
  d. is a parasite that benefits by not paying other resources for their services
  e. is the manager who runs an enterprise and keeps the customers happy


smrerig

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  • Posts: 325
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

C


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