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Provide a Short Answer to Each of These Questions

question 37

Essay

Provide a short answer to each of these questions. Be sure to fully explain your answer.
-In an economy that says it seeks to maximize profits for the individual firm, how can the United States government justify regulating business to control excess profits?


Definitions:

Operating Expense

This refers to the costs associated with the normal day-to-day operations of a business, excluding costs directly related to product manufacturing or service delivery.

Merchandising Company

A business entity that purchases and sells tangible goods without significantly altering their form.

Terms 2/10, n/30

Payment terms indicating a 2% discount if the bill is paid within 10 days; otherwise, the net amount is due in 30 days.

Discount

A reduction from the usual cost of something, or an amount deducted from the regular price or interest rate.

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