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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The correct answer is <span>when the boat is equipped with adequate side railings. Without the railings it is highly illegal, both to be there and on the starboard side. This is because it's dangerous and people can get hurt, or worse. If you have adequate railings then it is allowed. </span>
Answer:to help students who are finding it hard to answer school question
Explanation:my answer is up
The answer is Religion. Religion is having a belief in something that can control power. For example some people believe in god or gods
Answer:
If the price is expected to drop, current demand will fall
Explanation:
Demand is the amount of a product a customer is willing and able to buy at a particular price. When the price of a good is expected to drop in future, consumer tend to purchase less of the good at that time because they will want to keep the money until the prices fall to enable them purchase more of that good.
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