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. After adjusting for the inflation, Alex Rodriquez’s salary with NY Yankees was very higher in 2006 than Henry Aaron's salary with Atlanta Braves in the year 1970s that implies that: (i)
Can someone please help me in finding out the accurate answer from the following question. The Extensive fire damage in a neighborhood where almost everyone has fire insurance is an apparent evidence of: (1) Cost inflation in service sector. (2) Ineffective resource a
Give the answer of following question. Refer to the given data. The marginal cost of producing the sixth unit of output is: A) $24. B) $12. C) $16. D) $8. Q : Define price floor Price floor : Price Price floor: Price floor refers to the lowest amount price fixed by the government over the market determined price and hence the producers of the necessary items such as wheat, rice and so on might not experience losses.
Price floor: Price floor refers to the lowest amount price fixed by the government over the market determined price and hence the producers of the necessary items such as wheat, rice and so on might not experience losses.
Choose the right answer from following. In recent years the United States has: A) exported more services abroad than it has imported. B) had a small goods trade surplus with Japan. C) had a large goods trade surplus with the rest of the world. D) fallen to third behin
The technology is such that LAC is minimized at firm’s output equivalent to 10 and minimum LAC is Rs. 15. Assume that the demand schedule for the product is given as shown: Q : Firms in purely competitive markets Firms within purely competitive markets as: (1) practice price discrimination more often than do firms along with market power. (2) do not price discriminate since they are more interested in their customers than are monopolists. (3) cannot price disc
Firms within purely competitive markets as: (1) practice price discrimination more often than do firms along with market power. (2) do not price discriminate since they are more interested in their customers than are monopolists. (3) cannot price disc
Any drop in interest rates caused through people’s increased willingness to save, which will cause: (w) the rate of return schedule reflected in I0 to shift to the right. (x) the rate of return schedule reflected within I0 to shift to the left.
If this is possible, firms along with market power engage in price discrimination to: (i) defy civil rights legislation. (ii) help consumers. (iii) help the community. (iv) increase their profits. (v) reduce production costs.
At a price for $25, the demand for DVD games is around: (w) perfectly elastic. (x) perfectly inelastic. (y) unitarily elastic. (z) positively associated to supply. Discover Q & A Leading Solution Library Avail More Than 1448890 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1927973 Asked 3,689 Active Tutors 1448890 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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