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on 25-Sep-2015 (Fri)

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Flashcard 150917895

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
economic profit = (accounting profit - [...] profit)
Answer
normal profit


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

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economic profit = (accounting profit - normal profit)

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Flashcard 150918228

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
With the assumption of a single price for all units a firm sells, [...] revenue and price of a single unit must be equal.
Answer
average revenue


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
With the assumption of a single price for all units a firm sells, average revenue and price must be equal.

Original toplevel document (pdf)

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