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Normal profit:
Normal profit is when total revenue is exactly equal to total cost when the latter includes both explicit costs. It is the type of profit when made by firms in an industry does not attract new firms into the industry even when no barriers to entry exist. Existing firms also do not leave industry also. The firm’s profit then is equal to the implicit costs.
What is the resultant pressure if 2.7 mol of ideal gas at 273 K and 2.51 atm in a closed container of constant volume is heated to 399 K
What is an optimization in the methods of mathematics of modern economics? Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic
I have an article about 40 pages long that''s needs to be read and then a discussion question. The post has to be 35-40 lines. I will have to send/ attach the article
Determinants of Private Demand - Regional Disparity There is imbalance in distribution of facilities. There are over 600000 villages in India. And there were over 8737 degree
what is the definition of economic system?
An ole firm can use its own data of past years regarding its sales in past years. These data are known as time series of sales. A firm can predict sales of its product by fitting t
How can we test adulterants in vegetable oils?
what are monetry accounts?
(ii) Find a real-world example of second-degree price discrimination. Describe the important aspects of your example in detail and analyze it using economic theory. In particular,
What would be a factor that would make the prospects hopeful for overcoming the demand for resources in the future
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