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Normal profit:
Normal profit is when total revenue is exactly equal to total cost when the latter includes both explicit costs. It is the type of profit when made by firms in an industry does not attract new firms into the industry even when no barriers to entry exist. Existing firms also do not leave industry also. The firm’s profit then is equal to the implicit costs.
what are the limitations of economies of scale?
What is ceteris Paribus? Ceteris paribus is a Latin phrase, literally translated as "other things the similar," and usually rendered in English as "all other things being equa
define economics in plural sense. .
so this question asks for the deadweight loss if an institution decided to provide this service free of charge. I was wondering if this will achieve the socially efficent level or
Consider a two-period economy with a single commodity (say leisure): x1 is the con- sumption of leisure in period 1, and x2 is the consumption of leisure in period 2. When Peter ev
A monopolist faces the inverse demand for its output: p = 30 – Q The monopolist also has a constant marginal and average cost of $4/unit. The government is seeking ways to collect
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
what is linear programming
Suppose scientists discover that eating soybeans prevents cancer and heart disease
prefrence towards risk the demand for risky assets,
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