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Three types of profit

Three types of profit

Normal profit is the minimum return needed to keep an entrepreneur's resources in their current use. It is earned when average revenue equals average cost, so AR=ACAR = ACAR=AC.

7.5.9 definition of normal, subnormal and supernormal profit Lesson

  1. Intl A Level
  2. /Economics
  3. /7.5.9 definition of normal, subnormal and supernormal profit

Step-by-step lessons on CIE Intl A Level Economics 7.5.9 definition of normal, subnormal and supernormal profit. Each one builds up to exam-style questions.

Lessons