"Total revenue minus total cost" is
A) an incorrect definition of profit.
B) the correct definition of profit.
C) the economist's definition of profit.
D) the government's definition of profit.
E) the most common definition of profit.
E
Economics
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On which kinds of goods do governments generally place price ceilings?
What will be an ideal response?
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The precautionary principle is most likely to be applied when some impacts
a. Involve option values b. Are irreversible c. Are converted to present values d. Are estimated using the avoided cost approach e. Involve indirect use values
Economics