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Which of the following statements is true? a. Firms that strive and thrive in an industry are those that are more profitable than other firms.
Which of the following statements is true? a. Firms that strive and thrive in an industry are those that are more profitable than other firms. b. Firms that strive and thrive in an industry are those that uses labor intensive means of production. c. The goal of a firm is to supply a product that maximizes consumers' utility. d. Economists assume that the goal of a firm is to maximize total revenueA firm's _____ are its actual cash payments for resources. a. implicit costs b. sunk costs c. explicit costs d. marginal costs
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