{"id":119469,"date":"2022-09-27T16:26:47","date_gmt":"2022-09-27T10:56:47","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=119469"},"modified":"2022-09-27T16:27:01","modified_gmt":"2022-09-27T10:57:01","slug":"the-term-normal-profit-as-used-in-the-analysis-of-equilibrium-of-the-firm-under-perfect-competition","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/the-term-normal-profit-as-used-in-the-analysis-of-equilibrium-of-the-firm-under-perfect-competition\/","title":{"rendered":"The term &#8216;normal profit&#8217; as used in the analysis of equilibrium of the firm under perfect competition, refers to"},"content":{"rendered":"\n<p><strong>Q. The term &#8216;normal profit&#8217; as used in the analysis of equilibrium of the firm under perfect competition, refers to:<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"A\"><li>Earnings of management&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/li><li>Reward for enterprise<\/li><li>Reward for innovation&nbsp;&nbsp;<\/li><li>Residual income of a business<\/li><\/ol>\n\n\n\n<p>Answer: Earnings of management<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Q. The term &#8216;normal profit&#8217; as used in the analysis of equilibrium of the firm under perfect competition, refers to: Earnings of management&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reward for enterprise Reward for innovation&nbsp;&nbsp; Residual income of a business Answer: Earnings of management<\/p>\n","protected":false},"author":419,"featured_media":119470,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4960],"tags":[4961],"offerexpiration":[],"class_list":["post-119469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-demand-and-supply-mcqs","tag-demand-and-supply-mcqs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/119469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/419"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=119469"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/119469\/revisions"}],"predecessor-version":[{"id":119471,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/119469\/revisions\/119471"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/119470"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=119469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=119469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=119469"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=119469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}