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What is the difference between economic profit and producer surplus?
When economic profit is the difference among total revenue and total cost, producer surplus is the variation between total revenue and total variable cost. The variation among economic profit and producer surplus is the fixed cost of production.
What is the Tolerable error In addition to looking at material differences individually the auditor must list all the differences (material or not) and consider in total wheth
Your firm will produce widgets for the next 10 years (starting at t=1). Annual revenue from selling widgets is $20,000. Production requires an initial outlay (at t=0) for machin
what are the advantages blades could gain from importing or exporting to a foreign country such azs thailand?
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