Thomas Edison Once Said That He Began Making Real Profit

question 213

Multiple Choice

Thomas Edison once said that he began making real profit on light bulbs when he dumped his surplus on the European market at less than the "cost of production." From this we can deduce Edison

• A)did not want to maximize profit.
• B)understood the difference between marginal and average cost.
• C)had a different definition of the term "profit."
• D)did not understand the difference between fixed and variable cost.

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Definitions:

Share

A unit of ownership interest in a corporation or financial asset, allowing the shareholder to claim a part of the company's assets and earnings.

Negative Public Attention

Adverse publicity or scrutiny from the media or public that can affect a company's reputation and business.

Celebrity Spokespeople

Famous individuals who are paid to promote a brand, product, or service, leveraging their fame to influence potential buyers.

Breaching Contracts

Occurs when one party in a contractual agreement fails to fulfill their obligations, leading to a violation of the contract's terms.