For a monopolist, if price is above average total cost, the monopolist is:
- Earning positive or economic profit
<h3>What is positive profit?</h3>
A positive profit is earned when the revenue being made surpasses what is normal on the competitive scale. The cost of production is covered and surpassed in this case.
So when the monopolist fixes his price above the total cost, he will earn a positive profit.
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To begin with you must be 16 or 17 years old. You have to be able to support yourself , live on your own and manage your own affairs.
Answer:
Writer Jonah Lehrer has been following the work of several scientists engaged in experiments with the brain and our eureka moments. The studies aim to pinpoint ...
Explanation:
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The expression (PE products) - (PE reactants) represents the heat of reaction for a chemical change in terms of PE (potential energy).
<h3>What is potential energy?</h3>
Potential energy is any type of energy stored to perform physical work in a given period of time.
Conversely, kinetic energy is motion (movement) energy used when performing physical work.
In conclusion, the expression (PE products) - (PE reactants) represents the heat of reaction for a chemical change in terms of PE (potential energy).
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