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Explain how normal profit and abnormal profit differ.
Normal profit (breakeven) - which must contain commentary on the inclusion of opportunity costs. Abnormal profit should be explained as revenue above and beyond economics costs, i.e. a profit above what is essential to keep the firm in the market in the LR.
Foreign Direct Investment: It is an investment by a company (based in one country) in an actual operating business, including real physical capital assets (such asmachinery, buildi
Problem: i) What might be the possible causes of inflation according to economic theory? ii) Taking stable prices and full employment as two macroeconomic objectives of gov
First Degree Price Discrimination - The monopolist sells different units of the commodity at different prices which differ from person to person. Second Degree Price Discriminat
economists would predict that if salaries increased for engginieers and decreasded for mba braduates that fewer people would go to graduate school in business and more would go in
. the condition for second degree of price
current rate of gdp
PRODUCTION AND PRODUCTIVITY DIAGRAM BEHAVIORAL RELATIONSHIP
Most lotteries in the United States pay their winnings over time. For illustration, a million-dollar winner will receive $100,000 initially and the rest in equal installments over
"Describe the current Australian economic situation and support your claims with relevant economic indicators and variables. The RBA has maintained the cash rate of 4.75% for the
Wage Differentials: Market structure alone does not account for all of the differences in wages and employment. Market wage differentials arise from various other sources, includin
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