#Profit as a business Objective, Managerial Economics

#Profit as a business Objective, Managerial Economics

Assignment Help:

Write on one theory of profit.
Profit as rent of ability: one of the most widely known theories of profit was propounded by F.A. Walker. According to him profit is the rent of is the difference between the earnings of at least and the most fertile land. Profit is the difference between the formulating his profit theory, Walker and as the most efficient enterprises in formulating his profit theory each firm summed a state of perfect competition in which all firms are presumed to possess equal managerial ability. Each firm would receive only the wages of management which, in walker''s view, forms no part of pure profit. He regarded wages of management as ordinary wages. Thus under perfectly competitive conditions, there would be no pure profit and all firms would earn only managerial wages, which is popularly known as "normal profit".

Related Discussions:- #Profit as a business Objective

Calculate maximize total revenue, A city has two newspapers. Demand for eit...

A city has two newspapers. Demand for either paper depends on its own price and the price of its rival. Demand functions for paper A & B respectively, measured in tens of thousands

Financial management, Discuss the importance of dividend decisions

Discuss the importance of dividend decisions

Williamson model of managerial discriation, how equilibrium output can be...

how equilibrium output can be find in williamson model

Define thevariable factor of production, Define theVariable factor of produ...

Define theVariable factor of production The input level of a variable factor of production can be diverse in the short run. Raw material inputs are believed as variable fact

How income level must remain constant - law of demand, How Income level mus...

How Income level must remain constant - law of demand The law of demand operates only when income level of the buyer remains constant. If income rises when the price of commod

Wood planks producer show in the market, ChoppinAxe is a little Swedish fi...

ChoppinAxe is a little Swedish firm that produces wood planks and operates in a perfectly competitive market. Each firm in the market has the following total cost function:

Econ600, 250 word essay: A New Hampshire resort offers year-round activitie...

250 word essay: A New Hampshire resort offers year-round activities: in winter, skiing and other cold-weather activities; in the summer, golf, tennis, and hiking. The resort’s oper

Principles of an optimal tax system, PRINCIPLES OF AN OPTIMAL TAX SYSTEM ...

PRINCIPLES OF AN OPTIMAL TAX SYSTEM When taxes are imposed certain conditions must be fulfilled. These conditions are known as Principles or canons of taxation. According to

Objectives of demand forecast, Drafting of Production Policy: Demand forec...

Drafting of Production Policy: Demand forecasts assists in drafting appropriate production policy so that there may not be any space between future demand and supply of a product.

How advertising expenditure must remain the same, Advertising expenditure m...

Advertising expenditure must remain the same If advertising expenditure of a firm increases, consumers may be tempted to buy more of its product. Hence the advertising expendit

Write Your Message!

Name

Email id

Message

Verfication Code

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd