Question

2. Subnormal profit is equal to​

Answer 1

Answer:

Sub-normal profit is any profit less than normal profit – where price < average cost. If a firm is making an economic loss, i

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Answer 2

Answer:

Sub-normal profit is any profit less than normal profit – where price < average cost. If a firm is making an economic loss, it may decide to leave a market in the long run in search of higher expected returns.

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