Which of These Are the Major Sources of Economic Profit

question 94

Multiple Choice

Which of these are the major sources of economic profit?

• A) uncertainty, entrepreneurial alertness, and barriers to entry
• B) competition, perfect information, and elasticity of market demand
• C) size of firm, economies of scale, and freedom from unionism
• D) externalities, inflation, and size of firm

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Definitions:

Periodic Tenancy

A leasehold interest in property that continues for successive periods (e.g., month-to-month, year-to-year) until terminated by either party.

Eviction Action

A legal process initiated by a landlord to remove a tenant from a property due to violations of the rental agreement.

Prior Renter

An individual who previously rented or leased a specific property or item before the current occupant or user.

Implied Warranty of Quiet Enjoyment

A legal doctrine ensuring tenants can use their rented space without interference from the landlord.