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

Market structures, the full detailed of market structure their characterist...

the full detailed of market structure their characteristic ,sources with clear explanation

Demand pull inflation and cost-push inflation, Demand Pull Inflation and Co...

Demand Pull Inflation and Cost-Push Inflation: Demand Pull Inflation: It describes a sustained increase in the general price level that is caused by a permanent increase in n

Stockholders and managers, Normal 0 false false false E...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4 1. Suppose that the

What is use of analytical tools in the modern economics, What is use of ana...

What is use of analytical tools in the modern economics? Analytical Tools: Modern economics also gives different powerful analytical tools which are usually specified by geo

Define the concept of opportunity cost, 1. Define the concept of opportunit...

1. Define the concept of opportunity cost in your own words. Given an example from your own life of the opportunity cost of a decision (do NOT use classroom examples).  Explain why

Revenue, what is the meaning of total revenue?

what is the meaning of total revenue?

Consumer behaviour, do you think that dimnishing returns to a factor are co...

do you think that dimnishing returns to a factor are consistent with increasing returns to scale? explain with suitable diagram and reasoning.

Natural environment for economics, Q. Natural environment for economics? ...

Q. Natural environment for economics? Environment: The natural environment is an essential aspect of the economy, whose influence is felt in several different ways. Everyone

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