Explain how the graph below can be used in risk analysis.
Definitions:
Production
The process of combining various material inputs and immaterial inputs (plans, know-how) to make something for consumption.
Constant-cost Industry
An industry in which the costs of production do not change as the industry's total output changes.
Competitive Market
A market where there are many buyers and sellers so that no single buyer or seller can influence the price or market conditions.
Economic Profits
The variance between a corporation's total earnings and all its explicit and implicit expenditures.
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