Examlex
What measurement tool determines the profits that remain after the cost of capital has been deducted from operating profits?
Long-run Equilibrium
A state in a market where all firms are making normal profits, with no incentives for entry or exit, and all factors of production are variable.
Demand Curve
A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers.
Long Run
A period of time in which all factors of production and costs are variable, allowing companies to adjust to market changes.
Perfectly Competitive
A market structure characterized by infinite buyers and sellers, no barriers to entry, and perfect information, resulting in an efficient market.
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