Milton Friedman Contended That a Business Cannot Increase Its Profits

question 87

True/False

Milton Friedman contended that a business cannot increase its profits while conforming to society's laws and ethical customs.

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Definitions:

Home Security Division

A specialized unit of a company that focuses on producing and selling home security products and services.

Idle Capacity

Refers to the unused production capacity of a company, where equipment and resources are not being used to their full potential due to insufficient demand or operational inefficiencies.

Fixed Costs

Costs that remain constant in total amount regardless of fluctuations in activity level within a relevant period.

Outside Supplier

An external entity that provides goods or services to a company, usually part of the supply chain.