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Three profit outcomes

Three profit outcomes

Profit is the difference between total revenue and total cost: Profit=TR−TCProfit = TR - TCProfit=TR−TC. Total cost includes normal profit because normal profit is the entrepreneur's opportunity cost.

3.3.4 Normal profits, supernormal profits and losses Lesson

  1. A Level
  2. /Economics
  3. /3.3.4 Normal profits, supernormal profits and losses

Step-by-step lessons on Edexcel A A Level Economics 3.3.4 Normal profits, supernormal profits and losses. Each one builds up to exam-style questions. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.

Lessons