In the United States since 1960, the price of health care services has increased but the price of health insurance has decreased

Economists consider profit to be

A) a cost of producing goods and services. B) something that should be eliminated by antitrust laws. C) the same as a salary. D) a reward for incurring losses.

You have just been hired as a business consultant to determine what pricing policy would be appropriate to increase the total revenue of a bakery. The first step you would take would be to

a. increase the price of every loaf of bread in the store. b. look for ways to cut costs and increase profit for the bakery. c. determine the price elasticity of demand for the bakery's products. d. determine the price elasticity of supply for the bakery's products.