Normal profit, Microeconomics

Assignment Help:

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.


Related Discussions:- Normal profit

EM13720147ion, Ask questMicroeconomics Reference No.:- #Minimum 100 words ...

Ask questMicroeconomics Reference No.:- #Minimum 100 words accepted#

Political economy, what is the significance of the Loucas critique in polit...

what is the significance of the Loucas critique in political economy?

Economic planning, what are the recommendations for effective economic plan...

what are the recommendations for effective economic planning?

Describe stabilisation policies as by the imf, Describe stabilisation polic...

Describe stabilisation policies as by the International Monetary Fund (IMF). Define stabilisation policies as basically a list of demands set forward by the IMF to a debtor nat

Second best, what is the theory of second best ? prove the theorem with the...

what is the theory of second best ? prove the theorem with the help of a diagram ?

Public good , Graphically illustrate how society decides on the number of p...

Graphically illustrate how society decides on the number of police officers to hire

Elasticities of supply and demand, ELASTICITIES OF SUPPLY AND DEMAND ...

ELASTICITIES OF SUPPLY AND DEMAND Usually, elasticity is a measure of the sensitivity of one variable to the other. It told us the percentage change in one variable in re

Dependence on agricultural production, Dependence on agricultural productio...

Dependence on agricultural production: Dependence on agricultural production and primary product for exports. The external sector comprises Imports and Exports, Ghana shows de

Foreign investment, Foreign investment: To attract foreign investment ...

Foreign investment: To attract foreign investment – Developing Plans are used as a means of attracting foreign investment or foreign aid.Foreign government and international o

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd