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dskmvld dskmvld
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5 years ago
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

• arbitrage profits.

• transactions profits.

• pure profits.

• excess profits.
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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kirakira15kirakira15
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5 years ago
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dskmvld Author
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5 years ago
Thanks
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Helped a lot
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2 hours ago
Just got PERFECT on my quiz
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