Assuming Zero Transactions Costs, If Your Local Grocer Buys Oranges

question 231

Multiple Choice

Assuming zero transactions costs, if your local grocer buys oranges at a low price from an orchard and resells them to you at a higher price, then the grocer's revenue minus costs is known as

• A)arbitrage profits.
• B)transactions profits.
• C)pure profits.
• D)excess profits.

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