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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Answer:
The capital of Fiji is <em>also </em><u><em>the largest metropolitan city</em></u><u>,</u> SUVA, <em><u>located on South east coast of an island. </u></em>
Explanation:
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Answer:Observational learning
Explanation:
Observational learning, this is how we learn when we observe others do things so that later we can actual imitate their behaviour or model their behaviour and emotional expressions
Some people may also learn from someone's behavior but not really imitate it in the future. According to psychologist there are certain ways that are followed for the observed behavior to successful, these are attention ,retention, reproduction and motivation.
Conditions for observational learning
Attention
- for someone to learn a behavior they need to actual pay attention to what is being done by their model otherwise if there are factors distracting that person it won't be easy to learn the behavior.
Retention means one need to actual keep the behavior in their kind and be able to remember it in the future
Reproduction and motivation is dependent on the fact that if the behaviour is rewarded one is likely to imitate it but if it is punished they are likely to reject it.
1. Scissors/Needles
2. Beads and Stones
3. Embroidery Hoops
4. Woven Fabric
5. Embroidery Floss
