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What is a normal profit? Which one is more important: short-run profit or long-run profit?

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normal profit is discussed very comprehensively in this explanation..

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What is a normal profit? Which one is more important: short-run profit or long-run profit?

Normal profit is the minimum amount of profit required for a company to stay competitive. This is a situation in which the economic profit reaches zero or when the difference between total revenue and total costs including opportunity costs equals zero. From the perspective of ...

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Hatim Baxamusa, MBA
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  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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