Which of the following is most likely to be true of economic and accounting profits?
a. Economic profits are less than accounting profits.
b. Accounting profits are less than economic profits.
c. Economic profits plus accounting profits equal zero.
d. Accounting profits minus economic profits equal zero.
a
Economics
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Why might this type of industry be used as an example of a contestable market? Can you think of any reasons why this might not be a good example of a contestable market?
Economics
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What will be an ideal response?
Economics