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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.
demand elasticity
Nile.com, the online bookstore, wants to increase it''s total revenue. One strategy is to offer a 10% discount on every book that sells. Nile.com knows it''s customers can be divid
Johnson Farms owns valuable farm land that allows it to produce wheat at a lower cost than its competitors. The company reports large profits each year on its accounting statements
The price of petrol fell during the past year. a. Explain why the law of demand applies to petrol just as it does to all other goods and services. b. Explain how the substitu
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a curve on a graph shows the relationship between apartment rent in a town and the quantitiy of apartments that people want at each rent. A new industry enters the town and the pop
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