If losses are unavoidable in an uncertain world, then
What will be an ideal response?
so, too, are profits.
You might also like to view...
An individual decides to rent an apartment for $7,000 per month. The commuting time from this apartment to his office is 80 hours per month
If the individual's opportunity cost of time is $30 per hour, calculate the direct cost, indirect cost, and total cost per month she would incur if she rents the apartment.
Marginal revenue product of labor is defined as the additional
a. output a firm would receive after hiring one more unit of resource b. cost of hiring one more unit of resource c. revenue earned by selling one more unit of product d. revenue earned by hiring one more unit of labor e. output received by spending one more dollar on resources
When British soldiers in German prisoner of war camps during World War I smoked the best cigarettes and used the low-quality ones as money, they were obeying
a. Gresham's law that says bad money drives out good money b. Gresham's law that says good money drives out bad money c. the classical law that says bad money drives out good money d. the classical law that says velocity affects money e. Weldon's law that says velocity affects money
Government action can usually perfectly correct the market's shortcomings
a. True b. False Indicate whether the statement is true or false