--%>

Difference between economic profit and producer surplus

Describe difference between economic profit and producer surplus?

Whereas economic profit is the difference among total revenue and total cost, producer surplus is the difference among total revenue & total variable cost.  The difference among economic profit and producer surplus is the fixed cost of production.

   Related Questions in Biology

  • Q : Define Operating Leadership Operating

    Operating Leadership: It identifies key risk factors which affect individual and team performance. This has been specifically designed to give the National Park Service with a standardized approach which will aid employees in assessing and managing ri

  • Q : Explain the term hematosis Explain the

    Explain the term hematosis? In humans where does hematosis take place? Answer: Hematosis is the oxygenation of blood. Venous blood (or oxygen-poor) subsequent to hem

  • Q : What is Strategic Partnership Strategic

    Strategic Partnership It is is a formal alliance among two commercial enterprises, generally formalized by one or more business contracts however falls short of forming a lawful partnership or, agency, or corporate associate relationship.

  • Q : Where CRM is initially used Where CRM

    Where CRM is initially used? This stand for Customer Relationship Management. Generally it deals along with Customers and their Contacts, Address and so on.

    Q : Humorous Look at Sex Education Briefly

    Briefly explain the term Humorous Look at Sex Education?

  • Q : What were black codes Black Codes were

    Black Codes were the laws passed by the southern government which imposed severe restrictions on freed slaves. They were not permitted to vote.They were also not allowed to carry weapons in public places.They were forced to work in certain occupations

  • Q : Define Entrepreneurial Leadership

    Entrepreneurial Leadership: It can be stated as a social influence process intended to ease the discovery, assessment, and exploitation of the entrepreneurial opportunities. Leadership is the procedure via which an

  • Q : What is Hinge joint Hinge joint : This

    Hinge joint: This permits the movement of the portion of body in one direction up or down however not sideways. Illustrations of this joint are elbow-joint, knee-joint and movement of the lower jaw.

  • Q : Define Technology Rightsizing

    Technology Rightsizing: It is an informal selection a computer configuration suitable to an organization's present and future needs within the life span of a system.

  • Q : Define Tax Calculation Procedure Tax

    Tax Calculation Procedure: Tax calculation procedures is based on countries depended. One country is employing deferment of tax procedures. We are making new country as well and at what kind of calculation procedures present are running on the country