In what sense is profit a cost of production? Select one: O a. Profit levels in each industry are regulated by the government. O b. Profit is a subcategory of cost of goods sold and is listed on most accounting statements. c. Profit arises from the exploitation of labor and is one cost of having a capitalist economic system. O d. Unless firms can pay themselves (their owners) enough profit to stay in a particular business, the owners will take their resources and go into another business.

In what sense is profit a cost of production? Select one: O a. Profit levels in each industry are regulated by the government. O b. Profit is a subcategory of cost of goods sold and is listed on most accounting statements. c. Profit arises from the exploitation of labor and is one cost of having a capitalist economic system. O d. Unless firms can pay themselves (their owners) enough profit to stay in a particular business, the owners will take their resources and go into another business.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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