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Microeconomics II
book

Microeconomics II

by D.N. Dwivedi
August 2011
Intermediate to advanced content levelIntermediate to advanced
368 pages
14h 51m
English
Pearson India
Content preview from Microeconomics II
244 Chapter 11
‘prot to a layman means all income that go to the capitalist class’. To an accountant, prot means
the excess of revenue, which is over all paid-out costs including both manufacturing and overhead
expenses. For all accounting purposes, businessmen also use this denition of prot. But on the ques-
tion as to whether a businessman should stay in his present business or move to another, accounting
prot is not a relevant guide. e term ‘prot’ in the accounting sense does not include the opportunity
cost that a businessman bears to earn a given prot in his present occupation. But a businessman do
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Publisher Resources

ISBN: 9788131797655