One assumption of the perfectly competitive model is free entry and exit. this assumption most directly leads to the implication that positive economic profit is only possible in the short run.
Profit is the difference between the return an economic agent earns from its output and the opportunity cost of its input. It equals total revenue minus total costs (including explicit and implicit costs).
Economic profit or loss is the difference between the revenue from the sale of output and the cost and opportunity cost of all inputs used. Opportunity cost and explicit cost are subtracted from earned revenue when calculating economic profit.
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Louisiana's abundant natural resources have supported the development of its economy. The rich soil of Louisiana has produced generous harvests since the Native Americans first planted corn. Agriculture today has shifted from the small farms and plantations of the past to huge agribusiness systems.
Explanation:
top person is right
Answer:
Industrial societies are a product of the industrial revolution, which began in the mid-18th century with the harnessing of natural elements such as water .
1) Legislative
2) Executive
3) Judicial
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Explanation:
Alabama is not a Plains state. It was not a part of the Dust Bowl. But the South saw similar agricultural problems, and a crisis that some say was on a similar level to the Dust Bowl in the west
