The most popular definition of "profit" is
What will be an ideal response?
total revenue minus total cost.
Economics
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The multiplier is 5 and, as a result of a change in expenditure, equilibrium expenditure and real GDP change by $200 billion. What was the initial change in autonomous expenditure?
A) $20 billion B) $50 billion C) $1,000 billion D) $40 billion E) $200 billion
Economics
The above diagram shows the cost curves for a perfectly competitive wheat farmer. At what price does the wheat farmer shut down?
What will be an ideal response?
Economics