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In economics, profit is the difference between revenue that an economic entity has received from its outputs and total costs of its inputs, also known as surplus value. [1] It is equal to total revenue minus total cost, including both explicit and implicit costs.
For instance, the implementation of lockdowns and other limitations to stop the spread of the virus resulted in a $158 billion dollar loss due to decreased economic activity, job losses, and a rise in mental health issues. [24] Demand and supply of hospital beds and days during Covid-19
The Williamson tradeoff model is a theoretical model in the economics of industrial organization which emphasizes the tradeoff associated with horizontal mergers between gains resulting from lower costs of production and the losses associated with higher prices due to greater degree of monopoly power. [1]
Dividend – Payment made by a corporation to its shareholders, usually as a distribution of profits; Economic value added – Value of a firm's profit after deduction of capital costs; Gross income – Sum of all earnings before taxes; Gross margin – Gross profit as a percentage (the difference between the sales and the production costs)
In the long-run, firms change production levels in response to (expected) economic profits or losses, and the land, labour, capital goods and entrepreneurship vary to reach the minimum level of long-run average cost. A generic firm can make the following changes in the long-run: Enter an industry in response to (expected) profits
In the short term, firms are able to obtain economic profits as a result of differentiated goods providing sellers with some degree of market power; however, profits approaches zero as more competitive toughness increases in the industry. [17] The main characteristics of monopolistic competition include: Differentiated products; Many sellers ...
Sankey Diagram - Income Statement (by Adrián Chiogna) An income statement or profit and loss account [1] (also referred to as a profit and loss statement (P&L), statement of profit or loss, revenue statement, statement of financial performance, earnings statement, statement of earnings, operating statement, or statement of operations) [2] is one of the financial statements of a company and ...
In Marx's critique of political economy, capital accumulation is the operation whereby profits are reinvested into the economy, increasing the total quantity of capital. Capital was understood by Marx to be expanding value, that is, in other terms, as a sum of capital, usually expressed in money , that is transformed through human labor into a ...