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Tags
#cfa #cfa-level-1 #economics #has-images #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit
Question
Economic profit occurs when [...]
Answer
price is greater than ATC.
Remember RRR is taken as a fixed cost.
Remember RRR is taken as a fixed cost.
Tags
#cfa #cfa-level-1 #economics #has-images #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit
Question
Economic profit occurs when [...]
Answer
?
Tags
#cfa #cfa-level-1 #economics #has-images #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit
Question
Economic profit occurs when [...]
Answer
price is greater than ATC.
Remember RRR is taken as a fixed cost.
Remember RRR is taken as a fixed cost.
If you want to change selection, open original toplevel document below and click on "Move attachment"
Point D, which corresponds to output Q 3 , is a position where economic profit occurs because price is greater than ATC.
cost. However, in the long run, to remain in business, the price must cover all costs. Therefore, in the long run, at any price below the breakeven point, the firm will exit the market, i.e., the firm will no longer participate in the market. <span>Point D, which corresponds to output Q 3 , is a position where economic profit occurs because price is greater than ATC. In the case of perfect competition, the breakeven point is the quantity where price, average revenue, and marginal revenue equal average total cost. It is al
Parent (intermediate) annotation
Open itPoint D, which corresponds to output Q 3 , is a position where economic profit occurs because price is greater than ATC.
Original toplevel document
Open itcost. However, in the long run, to remain in business, the price must cover all costs. Therefore, in the long run, at any price below the breakeven point, the firm will exit the market, i.e., the firm will no longer participate in the market. <span>Point D, which corresponds to output Q 3 , is a position where economic profit occurs because price is greater than ATC. In the case of perfect competition, the breakeven point is the quantity where price, average revenue, and marginal revenue equal average total cost. It is al
Summary
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
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