CBSE Class 12-commerce Answered
what are normal profits and abnormal profits?
Asked by Shruti | 11 Sep, 2017, 07:37: PM
Expert Answer
Firms earn normal profits when the market equilibrium price equals the average cost. Firms earn supernormal profit if the equilibrium price is greater than the minimum average cost of the firms.
Answered by Tharageswari S | 12 Sep, 2017, 08:56: AM
CBSE 12-commerce - Economics
Asked by Shruti | 11 Sep, 2017, 07:37: PM
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