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An Opportunity Is the Potential for New Business Markets or Innovative

question 39

True/False

An opportunity is the potential for new business markets or innovative breakthroughs that might expand present markets.


Definitions:

Profit-Maximizes

The strategy or action by a firm to adjust its production and pricing to achieve the highest possible profit.

Cost

The value of everything a seller must give up to produce a good.

Long Run Adjustment

The process through which input levels, production capacities, and market prices stabilize in response to sustained changes in demand or supply.

Profit-Maximizes

Refers to a strategy or actions by firms aiming to achieve the highest possible profit given their constraints and market conditions.

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