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Why can firms in a perfectly competitive market only achieve normal profits in the long run?

Normal profit is the minimum level of profit required to maintain a firm's factors of production in their present use. It is measured by the opportunity cost of using them.
Supernormal profit is any ...

WE
Answered by William E. Economics tutor
2607 Views

Analysing IR spectrum.

IR looks at how infrared light interacts with a molecule, measuring the vibration of atoms. Bonds are continuously vibrating and moving around, much like two balls connected by a spring. This spring syste...

LW
Answered by Lucy W. Chemistry tutor
2322 Views

Translate the following sentence into German: "I have been playing the piano for five years."

Answer: "Ich spiele seit fünf Jahren das Klavier". A common mistake made by students of German would be to say: "Ich habe seit fünf Jahren das Klavier gespielt". This is because the co...

EB
Answered by Edward B. German tutor
2564 Views

what is the difference between conduction and convection?

Whilst both are transfers of heat energy- conduction happens best in solids and convection best in fluids. Conduction occurs as atoms gain energy from the heat source and start to vibrate. In conduction p...

MP
Answered by Molly P. Science tutor
2309 Views

What is integration?

Integration can be viewed in many ways. The most common way to interpret an integral is to take the area under the curve you would like to integrate. For example Draw y=x, limit between 0 and 1, shade...

MS
Answered by Mikhail S. Maths tutor
3175 Views

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