7. Economic profit (total revenue minus total cost) indicates that an industry is prosperous and promotes its

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7. Economic profit (total revenue minus total cost)

indicates that an industry is prosperous and promotes its expansion. Losses signify that an industry is not prosperous and hasten its contraction.

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Essentials Of Economics

ISBN: 9780073511313

2nd Edition

Authors: Stanley L. Brue, Campbell R. McConnell, Sean M. Flynn

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Question Posted: Sep 28, 2024 07:02 AM

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7. Economic profit (total revenue minus total cost) indicates that an industry is prosperous and promotes its

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Essentials Of Economics

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