Microeconomics
Solutions
Microeconomics
“Profit is not simply a dollar amount; it is a signal.” Comment.
Explain the profit of a firm as a signal in an economy.
Profit is the excess of the revenues over expenditure in the given period of time. It can be treated as a signal more than just a dollar amount. The reason is that in a competitive market, the profit of a firm indicates that people demand the particular product...
Chapter 16 Solutions
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