Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Difference between accounting profit and economic profit:
The difference between accounting profit and economic profit is that economists include in total cost of production both implicit and explicit costs whilst accountants see cost of production as only the explicit costs. Accounting profit is total revenue less total cost (made up of only explicit costs). The result if positive then an accounting profit is earned. If negative then an accounting loss is made and if zero then it is referred to as breakeven. Economic profit, on the other hand, is total revenue less total cost (made up of explicit plus implicit costs). The result if positive then an economic, pure or supernormal profit has been earned, if negative then an economic loss is made and if zero then normal profit has been earned.
Question 1: Tourism is often seen as a way of generating income, particularly foreign exchange. The economic spin-off effects are viewed as the most important aspect of touris
expansionary fiscal policy occurs?
Interest rate sensitivity can also be understood from another perspective. The total cost of a commodity is not just its price, but also what must be paid to borrow money to purch
Allocative efficiency criteria are satisfied by the competitive model. Because P = MC, in each market in the economy there is no over- or under- allocation of resources in this ec
How do you calculate marginal revenue, and monopolistic profit?
What is hyper inflation? How it can be reduced? Hyper inflation means that prices of the consumable goods are very high. Prices can be decreased by supplying more goods in th
the price elasticity for gizmos is known to be 1, if sellers of gizmos increase their
3
when does market equilibrium occur?
Evaluating the Gains and Losses from the Policies of Government: Consumer and Producer Surplus * Review - Consumer surplus is total benefit or value which consumers rece
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd