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Economics coursework
Essay specific features
Written by:
Burton B
Date added:
August 25, 2011
Level:
University
Grade:
A
No of pages / words:
3 / 739
Was viewed:
1472 times
Rating of current essay:
Essay content:
So what is profit?
Profit can be defined as the excess of total revenue over total cost during a specific period of time. Total revenue being the quantity of output produced times the selling price of a single output and total cost being the quantity of output produced times the cost of a single output...
displayed 300 characters
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Total revenue being the quantity of output produced times the selling price of a single output and total cost being the quantity of output produced times the cost of a single output.
In order to achieve maximum profit, oil sellers have to determine the best combination of price and quantity that generates the biggest profit...
displayed 300 characters
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