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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.
Differentiate between inflation and unemployment. Inflation is an increase in the general price level that results in a decline in the purchasing power of money. In economics,
can you help me answer an economics question
Concept of Stock Replenishment This concept assumes that stock is always available whether there is demand or not. Consider the demand for constituent items, such as componen
Determine The Rule of Divergence in General Though even if attention is confined to non-communist-ruled economies there still has been huge divergence in relative output per w
Q. What do you mean by Bond? Bond: A financial security that represents promise of its issuer (generally a company or a government) to repay a loan over a specified time period
1. Using personal (work) experience or examples found from companies you research or from text book scenarios: a. Give an example of at least two "conflicting measurements" bei
Discuss the costs and benefits of establishing a common currency. So, there is a convergence issue in setting up the common currency - and there will also be a convergence prob
Assume the banking system contains: Total Reserves $ 80 billion Transactions Deposited $800 billion Cash held by public $1
BACKGROUND: You have been promoted to the position of Vice President in a business consulting firm. This firm provides business consulting to a variety of businesses. The presi
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