Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
What started your company?
Expert Solution
Step 1
Company’s Profit:
The amount that left with the company after paying all the expenses of the company is termed as the company’s profit. For example, the company generated a revenue of $1000 billion by selling its services and there is an expense of $500 billion. Then the company’s profit will be revenue minus expense so the profit will be $500 billion.
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