Cheating large firms results in no cost for consumers or society. (a) this is true because a large firm is not likely to go out of business (b) this is true because a large firm makes enough profit to cover the costs. (c) this not true because these cost will passed on to consumers in the form of higher prices (d) this is not true because the firm will make up the loss by making lower quality products.
Cheating large firms results in no cost for consumers or society. (a) this is true because a large firm is not likely to go out of business (b) this is true because a large firm makes enough profit to cover the costs. (c) this not true because these cost will passed on to consumers in the form of higher prices (d) this is not true because the firm will make up the loss by making lower quality products.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Cheating large firms results in no cost for consumers or society. (a) this is true because a large firm is not likely to go out of business (b) this is true because a large firm makes enough profit to cover the costs. (c) this not true because these cost will passed on to consumers in the form of higher
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