According to the Elimination Principle

question 74

Multiple Choice

According to the elimination principle:

• A) above-normal profits are eliminated by exit.
• B) below-normal profits are eliminated by entry.
• C) there is a uniform rate of profit above the normal level in all competitive industries.
• D) resources are always moving toward an increase in consumer welfare.

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Definitions:

Federal Assistance

Financial or other support provided by the federal government to states, organizations, or individuals, often for specific projects or purposes.

Access Right

The privilege or ability to enter, retrieve, or make use of data or facilities.

Ethical Decision-Making Model

A structured approach to ensure decisions are made in a morally and ethically sound manner, considering all stakeholders involved.

Autonomy

The capacity to make an informed, uncoerced decision; in ethical and political philosophy, autonomy is often considered a fundamental right.