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lizsmith lizsmith
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4 years ago

Harvey Morris bought dishes and pitchers made of blue glass during the Great Depression at a flea market. He later resold these items on eBay. The profits Harvey earned from these sales are



▸

subject to a retail profits tax.



▸

the result of arbitrage.



▸

accounting profits but not economic profits.



▸

not economic profits because Harvey did not add value to the items but took advantage of the buyers who were not aware of how much Harvey paid for the items.

Textbook 
InMicro

InMicro


Edition: 1st
Authors:
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Kutthroat K.Kutthroat K.
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lizsmith Author
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#2
4 years ago
Thanks for your help!
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