Which of the following are ways in which an entrepreneur earns a profit? Check all that apply. a. By exploiting arbitrage opportunities b. By paying wages, interest, and rent to other factors of production c. By making entrepreneurial judgments in the face of uncertainty

Which of the following are ways in which an entrepreneur earns a profit? Check all that apply. a. By exploiting arbitrage opportunities b. By paying wages, interest, and rent to other factors of production c. By making entrepreneurial judgments in the face of uncertainty

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 36CTQ: Retune to Table 7.2. In the top half of the table, at what point does diminishing marginal...

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Question

Which of the following are ways in which an entrepreneur earns a profit? Check all that apply.

a. By exploiting arbitrage opportunities

b. By paying wages, interest, and rent to other factors of production

c. By making entrepreneurial judgments in the face of uncertainty

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