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What conditions exist when economic profits are maximized?
Peak performance.
How can one determine the economic surplus on a graph?
To determine the economic surplus on a graph, calculate the area between the supply and demand curves up to the equilibrium point. This area represents the total economic surplus in the market.
Does an increase of economic surplus in a market always mean that economic efficiency has increased?
No. If marginal cost of production decreases but market output stays the same, economic surplus and deadweight loss both increase, causing economic efficiency to decrease.
Why is an economic surplus necessary for economic development?
Economic surplus is necessary for development because it means a economy is producing more than its consuming. So it is exporting and making money and getting richer which leads to development.
What is surplus economic unit?
An economic unit having access of funds and wants to lend his funds
What conditions exist when economic profits are maximized?
Peak performance.
How can one determine the economic surplus on a graph?
To determine the economic surplus on a graph, calculate the area between the supply and demand curves up to the equilibrium point. This area represents the total economic surplus in the market.
Does an increase of economic surplus in a market always mean that economic efficiency has increased?
No. If marginal cost of production decreases but market output stays the same, economic surplus and deadweight loss both increase, causing economic efficiency to decrease.
What has the author Anders Danielson written?
Anders Danielson has written: 'The economic surplus' -- subject(s): Economic conditions, Economic development, Surplus (Economics) 'The political economy of development finance' -- subject(s): Economic policy, Fiscal policy
Distinguish between domestic and international finance?
Finance is the process of transferring fund from surplus economic unit to deficit economic unit. Domestic finance is the process of transferring fund from surplus economic unit to deficit economic unit within a country. And International finance is the process of transferring fund from surplus economic unit to deficit economic unit when any of these units is located outside a national country.
Why is an economic surplus necessary for economic development?
Economic surplus is necessary for development because it means a economy is producing more than its consuming. So it is exporting and making money and getting richer which leads to development.
What is surplus economic unit?
An economic unit having access of funds and wants to lend his funds
How do you calculate economic surplus?
I do not know. Try asking Jeeves.
Which was the most direct result of the production of surplus food?
economic specializtion
How can one determine the economic surplus in a market?
To determine the economic surplus in a market, calculate the difference between the total value that consumers place on a good or service and the total cost of producing it. This surplus represents the benefit gained by both consumers and producers in the market.
What is the impact of producer surplus on a monopoly graph and how does it affect market outcomes?
Producer surplus on a monopoly graph represents the extra profit earned by the monopolist above their production costs. This surplus is maximized when the monopolist restricts output and raises prices, leading to higher profits but potentially lower consumer welfare. The presence of producer surplus in a monopoly can result in higher prices, reduced consumer surplus, and less efficient market outcomes compared to a competitive market.
What has the author Worthley Dodd McCourtie written?
Worthley Dodd McCourtie has written: 'The potential role of foreign agricultural surplus in the economic development of Jamaica' -- subject(s): Surplus agricultural commodities, Economic assistance in Jamaica, Economic conditions
