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Student06 Student06
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A year ago

Karen earned a large income by buying houses when they were selling for relatively low prices, and selling them at a later time when they were selling for relatively high prices. Which of the following theories of profit best describes the reason behind her success?



▸

Uncertainty is the source of profits.



▸

Profit is the reward for alertness to arbitrage opportunities.



▸

Profit is the return to the entrepreneur as innovator.



▸

Land is always a source of economic profit.



▸

If you work hard enough, you will be rewarded.

Textbook 
Economics

Economics


Edition: 12th
Author:
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sbbaltsbbalt
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A year ago
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Student06 Author
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A year ago
Thanks
ediblefruitz
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Yesterday
Thanks for your help!!
elizabetheldrid
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2 hours ago
Helped a lot
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