Identify whether the following statements are Conclusion / Premise:

(1) Profit serves a very crucial function in a free enterprise economy such as our own.

(2) High Profits are the signal that consumers want more of the output of the industry.

(3) High profits provide the incentive for firms to expand output and for more firms to enter the industry in the long run.

(4) For a firm of above-average efficiency, profits represent the reward for greater efficiency.

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Sariah Hudson

7 September, 01:00

Identify whether the following statements are Conclusion / Premise:

(1) Profit serves a very crucial function in a free enterprise economy such as our own.

(2) High Profits are the signal that consumers want more of the output of the industry.

(3) High profits provide the incentive for firms to expand output and for more firms to enter the industry in the long run.

(4) For a firm of above-average efficiency, profits represent the reward for greater efficiency.

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Answers (1)

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Dahlia Steele · Answer 1

For a firm of above-average efficiency, profits represent the reward for greater efficiency.

Explanation: This statement looks more like a conclusion.