A firm's "normal profit" is best characterized by the average of a firm's profits over the past five years. amount of profit necessary to keep the price of a firm's stock from changing. amount of profit a firm could earn in its next best alternative activity. the average amount of profit earned in the firm's industry.
A firm's "normal profit" is best characterized by the average of a firm's profits over the past five years. amount of profit necessary to keep the price of a firm's stock from changing. amount of profit a firm could earn in its next best alternative activity. the average amount of profit earned in the firm's industry.
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter1: Introduction And Goals Of The Firm
Section: Chapter Questions
Problem 3E
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A firm's "normal profit" is best characterized by the
average of a firm's profits over the past five years.
amount of profit necessary to keep the price of a firm's stock from changing.
amount of profit a firm could earn in its next best alternative activity.
the average amount of profit earned in the firm's industry.
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