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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. Is this profit an "economic profit?" Explain.
Economics; Different Perspective ? Economics is the knowledge of the choices taken by people who are faced with scarcity. ? Scarcity is a condition
#q The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan
Define law of demand. Answer: Quantity demanded increases as price falls, other things constant. In other words, "Other things remaining the same, when the price of a good r
Igora''s pizzeria want to know if it should stay open this spring. Total Revenue will be $ 12,000 per week and Total Cost will be $ 18,000 per week. The fixed cost of running the b
Growth of Agricultural Production and Productivity: Post-independence period was marked by severe and recurrent shortages of foodgrains. Dependence on imports of foodgrains wa
Dolph, Jimbo, and Kearney are the only individuals participating in the very particular labor market for ‘protective’ services. Dolph''s labor supply is given by ????????=-46+0.874
#quesSuppose that two anti-marijuana proposals are currently being debated in Congress. Proposal I will reduce the supply of marijuana and cause its price to rise by 7%. Proposal I
how to solve for marginal revenue
What is Hybridization? Atomic orbitals can be combined, in a process called hybridization in chemistry , to describe the bonding in polyatomic molecules. Descriptions of the b
Q. Explain about Capital Flight? Capital Flight: A destructive process in that investors (both domestic residents and foreigners) withdraw their financial capital from a countr
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