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Profit: This is surplus left over after a company sells its output and pays off cost of production (which includes raw materials, labour costs and a proportional share of its capital equipment). Its calculation is: revenue - cost = profit.
What is equilibrium point
Conventions as a Basis for Forming Expectations : Since there is little objective basis for probability distributions about future yields, decision-makers have to act on the ba
if the price of labour is 2000 per hour and the price of capital is 1000 per hour.is there an efficiency point of production.
Axioms: Revealed preference theory is based on the axioms listed below. • Consumer will spend all her income on goods. The consumer equilibrium always remains on the budg
can economic laws proved universly
You work in the front office of the Spokane Indians, a minor league baseball team that plays in the Northwest League of Minor League Baseball. Your boss wants to know the different
Prove that the utility approach and the indifference curve approach yield the same consumer equilibrium.
Compare and contrast the different measures of revenue
Would a risk loving person prefer an increase in the chance of winning the lottery by 20% or an increase in the jackpot of 20%
why use GNP in macroeconomichs analysis
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