Discuss how external factors can influence the reported profit of a business.
Profit and its Maximization in Economics

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Business
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11th Grade - University
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Hard
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4 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
What happens to a firm's profitability when marginal revenue is equal to marginal cost?
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3.
OPEN ENDED QUESTION
3 mins • 1 pt
How can a firm achieve supernormal profit, and what does it allow them to do?
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4.
OPEN ENDED QUESTION
3 mins • 1 pt
What is the impact on a firm when average costs exceed average revenue?
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