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Profit: This is surplus left over after a company sells its output and pays off cost of production (which includes raw materials, labour costs and a proportional share of its capital equipment). Its calculation is: revenue - cost = profit.
Assume that in the market there exist two types of workers where the principle cannot distinguish types. The two types only differ with respect to the disutility of effort. The dis
explain the fundamental task of economic system usin tomatoes as an example
explain the theory of consumer behavior from the utility perspective
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
Insurance - Risk averse are willing to pay to keep away from risk. - If cost of insurance equals expected loss, risk averse people will buy sufficient insurance to totally r
short run equilibrium of the industry
DRAW A SIMPLE CIRCULAR FLOW DIAGRAM AND DISCUSS BRIEFLY THE DISTINCTION BETWEEN AN INJECTION INTO THE FLOW AND A LEAKAGE FROM IT
Sally recently finished her full-time training and received certification as a nurse’s aid at the end of August. She sent out applications to prospective employers during the last
National income: The national income or product or expenditure provides a measure of total value at factor cost of final goods and services, which are available either fo
Total cost curve (TC) is obtained by adding up vertically total fixed cost and total variable cost curves because the total cost is sum of total fixed cost and total variable cost
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