A firm is defined as a. a president, some vice presidents, and some employees. b. any organization that wants to make a profit. c. any accumulation of productive assets. d. any organization that turns inputs into outputs.

A firm is defined as a. a president, some vice presidents, and some employees. b. any organization that wants to make a profit. c. any accumulation of productive assets. d. any organization that turns inputs into outputs.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section12.1: What Are Costs?

Problem 1QQ

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Question

A firm is defined as
a. a president, some vice presidents, and some employees.
b. any organization that wants to make a profit.
c. any accumulation of productive assets.
d. any organization that turns inputs into outputs.

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