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Explain how normal profit and abnormal profit differ.
Normal profit (breakeven) - which must contain commentary on the inclusion of opportunity costs. Abnormal profit should be explained as revenue above and beyond economics costs, i.e. a profit above what is essential to keep the firm in the market in the LR.
a) Examine at least three (3) possible areas for the industry that could lead to transaction costs, and describe each in detail. b) Speculate about the behaviour that could
what are the microeconomic encompasses
Boltzmann Distribution: In most cases of interest of chemistry the particles adopt the Boltzmann distribution. Qualitative considerations: the general expression for W given by eq
firm''s product sells for Rs.200 per unit in a highly competitive market. The firm produces output using capital (which it rents at Rs.7500 per hour) and labor (which is paid a wag
Solve equation P=200-Qs and Qs=4.5p +5
How many half-lives are required for the concentration of reactant to decrease to 1.56% of its original value?
a) Explain the perverse incentive. b) What makes the incentive perverse? c) How could the incentive makers better the incentive?
#question.what is meant by ppc?illustrate the central problems of aneconomy with this curve.
project on visit to village for agriculturebased project
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