Flashcard sets with a 'normal profit' term meaning 'where total revenue is equal to total economic costs. this is a level of profit which is just sufficient to keep the firm in the industry in the long run'

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1-1 of 1Flashcard sets with a 'normal profit' term meaning 'where total revenue is equal to total economic costs. this is a level of profit which is just sufficient to keep the firm in the industry in the long run'
# Title Terms Date
13.1 Economicsby j-nerd47 termsMarch 14, 2009
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