Define abnormal profit
Abnormal profit: It is the gain earned over and above the normal profit.
Can someone help me in finding out the right answer from the given options. Which of the given below is not a legal form of the business in United States? (1) Partnership. (2) Corporation. (3) Limited partnership. (4) Producer cooperative. (5) All the above are
Economies of Scale: ‘Economies’ means benefits. The scale refers to the size of unit. ‘Economies of Scale’ refers to the cost benefits due to
The percentage change within quantity demanded along this demonstrated linear demand curve is: (w) greater than the percentage change within price in range b. (x) smaller than the percentage change within price in range a. (y) precise
The entire profit maximizing organization will hire more labor up to the point where: (i) Average physical product of labor equivalents the nominal wage. (ii) Last unit of labor adds uniformly to net revenue and net cost. (iii) Marginal product of the labor is at its
Whenever total utility is at a maximum, then marginal utility is: (1) Rising. (2) Reducing. (3) Zero. (4) Similar as total utility. Can someone help me in getting through this problem.
When a monopolist produces output where demand is unitarily elastic, in that case marginal revenue equals: (1) price. (2) infinity. (3) negative infinity. (4) one. (5) zero. I need a good answer on the topic of
Can someone help me in finding out the most precise answer from the given options. The long run in the production theory is a period just long sufficient for: (i) Firms to totally differ all resources. (ii) Profits to be maximized. (iii) Marginal costs curves to be re
Assume nominal GDP in the year of 2002 was $100 billion and in the year of 2003 it was $260 billion. The general price index in 2002 was 100 and in 2003 it was 180. Between 2002 and 2003 the real GDP rose by: A) 160 percent. B) 44 percent. C) 37 percent. D) 1
Differences into the demands for various resources, into the talents and kinds of labor people possess, within labor/leisure trade-offs, into inheritances, and by luck all play roles into explaining: (1) differences in income among individuals. (2) the term structure
When a previously competitive industry becomes monopolized along with no consequence on market demand or the structure of production costs, the effect will be: (w) higher prices and greater output. (x) lower prices and greater output.
18,76,764
1928103 Asked
3,689
Active Tutors
1450117
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!