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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.
what is isoquant ?
in the context of managerial economics how do you explain a rational producer.illustrate giving example.
-1- ASSIGNMENT #1 The demand function for Product X is given by: Qdx = 80- 2Px- 0.05P²x -0.2Py + 4Pz + 0.01I+ 2A Where: Px Price of good X $120.00 Py Price of related good y $100.0
i need to find Profitability, Earning capacity, Capital structure, Robustness from annual reports. Not a long job..
Discuss two factors that would increase demand for labortion..
expansionary fiscal policy occurs?
Assume you see that two macroeconomic variables are correlated with each other. But you want to know if there's an underlying or causal relationship between the two variables. Wo
explain the traditional theory of cost with suitable diagrams.explain why LAC curve is not U shaped?
Defined Benefit Pensions: A pension plan that pays a specified monetary benefit, generally based on a pensioner's years of service and their income at the time of retirement.
identify which curve (demand or supply) will be affected?
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