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Edexcel Economics: Micro (Year 2) > Normal profits, supernormal profits and losses > Flashcards

Normal profits, supernormal profits and losses Flashcards

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Edexcel Economics: Micro (Year 2) (20 decks)

Sizes and types of firms

Business growth

Business Objectives

Economies and diseconomies of scale

Normal profits, supernormal profits and losses

Perfect competition

Monopolistic competition

Demand for labour

Supply for labour

Wage determination in competitive and non-competitive markets

Government intervention

The impact of government intervention

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