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328

Q:

Who developed the innovative theory of profit?

  • 1
    Walker
  • 2
    Clarke
  • 3
    Knight
  • 4
    Schumpeter
  • Show Answer
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Answer : 4. "Schumpeter"
Explanation :

The 'Innovation Theory of Profit' was proposed by Joseph. A. Schumpeter who believed that an entrepreneur can earn economic profits by introducing successful innovations.

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