Explain how normal profit and abnormal profit differ, Microeconomics

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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.

 


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All chapter, sir explain me about all things of microeconomics

sir explain me about all things of microeconomics

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