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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.
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
1. "Price discrimination allows a monopoly to increase its economic profit by capturing part of the consumer surplus and turning it into economic profit. Such a situation however l
Duopolist P=20-0.1Q where Q=QA+QB CA=QA CB=0.1QB2
explain consumer equilibrium diagrammatically as well mathematically by using necessary and sufficient conditions
Hello there! I am currently doing an MBA course about the financial crisis which is quite challenging. Today we were given a question about the topic: Long term capital management
What is consumer surplus? What is its significance and what causes it to change?
Government increases the taxes on car ownership. Explain the possible market outcomes of such a decision. As this is a tax paid by owners, and therefore not levied indirectly
Arbitrage Pricing Theor y Arbitrage defines the procedure of continuously buying a security for privacy, currency, or commodity on one market and selling it in another
use a graphical illustration to briefly describe what the influence of an increase in immigrants would be on the market supply of labour
I want to address Inflation in Pakistan but it itself is a wide topic plz suggest me how to address Inflation to right a research article?????
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