what are the theories of profit?
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Four Theories of Profit are
Competitive Advantage, Rivalry Restraint, Information Asymmetry, and Commitment Timing.
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F. B. Hawley offered his risk theory of profit in 1893. According to Hawley, risk in business arose from product obsolescence, a sudden fall in prices, superior substitutes, natural calamities, or scarcity of certain crucial materials
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