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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.
types of elasticity of demand
What is the theory of Second Best? Prove the theorem with the help of a diagram.
Sources of external economies of scale: Economies of Skilled Labour: This involves upgrading the skills of labour through the provision of education and training faci
I want to address Inflation in Pakistan but it itself is a wide topic plz suggest me how to address Inflation to right a research article?????
Q. What do you meant by Private Equity? Private Equity: A form of business in which company's entire equity base is owned by one or a small group of individual investors. Under
Use of ppc in microeconomics
The least square method is based on the assumption that the past rate of change of the variable under study will continue in the future. It is a mathematical procedure for fitting
Xd(Px)=5000-100Px
In the short run, the size of the plant is fixed whereas in the long run a firm can adjust its plant size. One of the choices in the long run will be the short run plant size. That
illustrate graphically the influence of an increase in immigrants on the market supply of labour
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