Profits resulting from luck can be distinguished from profits attributable to shrewd predictions by

A) calculating the opportunity cost of earning the profits.
B) comparing the profits with interest rates.
C) finding out whether they lead to reduced revenue or increased costs.
D) no known empirical test.
E) whether or not they were generally anticipated.

D

Economics

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For most industrial nations, health-care costs have increased faster than the rate of inflation

a. True b. False Indicate whether the statement is true or false

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Which of the following statements about demand and price elasticity of demand is TRUE?

A) As the demand curve has a positive slope, the price elasticity of demand is positive. B) As the demand curve has a negative slope, the price elasticity of demand is negative. C) As the demand curve has a positive slope, the price elasticity of demand is negative. D) As the demand curve has a negative slope, the price elasticity of demand is positive.

Economics