Which of the following is TRUE?
a. Purchase a supplier as long as the supplier is profitable
b. Purchasing a profitable customer would lead to an increase in profits
c. Purchasing a profitable supplier may not necessarily increase your profits
d. Purchasing a profitable supplier is a bad idea and would lead to decreased profits
c
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Which of the following is an example of a macroeconomic aggregate?
A) Total fixed cost faced by a firm B) Income earned by a household C) Profit earned by an entrepreneur D) The annual inflation rate
The demand for a good is elastic. Which of the following would be the most likely explanation for this?
A. The time interval considered is long. B. The good costs a small portion of one's total income. C. The good is broadly defined. D. The good is a necessity.