In economics, how is "profit" defined?

In economics, how is "economic profit" defined?

COLD WAR DISCUSSION What was the reason for the breakdown in friendly relations between the United States and the Soviet Union? How has this shaped history for the last 50+ years? During the Cold War, politics abroad and politics at home were connected. How so? How did actions abroad shape beliefs at home or vice versa?

1. Now, suppose that Humongous National loans the amount that you found in part b) to Ronaldinho Gaúcho.

Fill out the blanks in the Humongous National Bank’s T-account to reflect this transaction. Show your calculation.

Answer:                                                                                                                                (4 points)

Humongous National’s T-account:

Assets                                                                               Liabilities__

TR=   $3,080                                                                              D =  $3.080

            RR = $369.60

            ER = $2,710.40

2. As a result of this transaction, can Humongous National continue loaning out money using Leo Messi’s initial deposit of $3,500?

Answer:  (circle the correct answer)                                                                                  (3 points)

YES    NO

I have the T-Chart filled out, I just need an explanation on the YES/NO question. Thanks

I'm having trouble distinguishing which of the interest rates, either nominal or real, central banks are able to control directly. Expanding on that, is there a difference between monetary policy's impact on short and long-run interest rates? I understand that monetary policy can control short-run nominal interest rates, but is the same true for long-run nominal interest rates? Do central banks have any control over real interest rates or only nominal? I am so confused.

Essentially, what are the differences between these four types of interest rates:

1. Short-Run Nominal Interest Rates

2. Long-Run Nominal Interest Rates

3. Short-Run Real Interest Rates

4. Long-Run Real Interest Rates

And which are controlled by monetary policy?

If this seems all over the place and incomprehensible, then I would appreciate a general explanation of monetary policy with respect to nominal and real interest rates if possible!

Explain a situation you have observed (or read about) in which a firm made a decision considering irrelevant costs or did not consider relevant costs. What was the outcome of the decision, and what could have been done differently?

Determine the profit maximizing quantity and profit levels; and then graph (in general form) the outcomes for the production function ( standard form with q(K,L) curve ) , cost/revenue functions (with MC, AC, and P curve/line) and profit function ( profit (q) curve ) for the following all graphs have to display q*: 1. C(q)=1000+q^2, P=10000 2. C(q)=1000+4q^3, P=10000 3. C(q)=1000+q^1.5, P=10000 4. Explain the differences between your outcomes and give a plausible reason for the difference between 1 & 2 and then for 1 & 3. Specifically: what changed, what didn't, what the effects are, and why.

How methods of data collection and analysis jeopardise external validity ?

b. What factors shift AS and AD curves? How do you explain macroeconomic fluctuations using AS-AD models and AS/AD curves?

Use the following to answer questions 6-10:

Suppose that firms 1, and 2 are Cournot duopolists in the salt industry. The market demand curve can be specified as Q=20-p, Q=q₁₊q₂

(The firms choose their quantities simultaneously.)

The cost to firm 1 is C(q₁)=1q₁.

The cost to firm 2 is C(q₂)=2q₂.

6)   Find Firm 1 optimal production levels q1=?.

Select one:

a.
  0<q1<2

b.
2<q1<4

c.
  4<q1<6

d.
6<q1

e.
None of the above

7)    Find Firm 2 optimal production levels q2=?.

Select one:

a.
0<q2<2

b.
2<q2<4

c.
  4<q2<6

d.
6<q2

e.
  None of the above

8)   Determine the equilibrium price? (p=?)

Select one:

a.
  0<P<3

b.
3<P<4

c.
  4<P<5

d.
  5<P

e. None of the above

9) Firm 1 will earn? (pi1=?)

Select one:

a.
  0<Pi1<10

b.
  10<Pi1<20

c.
  20<Pi1<22

d.
  22<Pi1<23

e.
  None of the above

10)   Firm 2 will earn? (pi2=?)

Select one:

a.
0<Pi2<10

b.
10<Pi2<20

c.
  20<Pi2<22

d.
  22<Pi2<23

e.
None of the above