Abstract
Suppose a man sets himself up as a shopkeeper selling sweets. He invests £2 000 of his savings in the business, and in the first year his receipts are £40 000 and his outgoings £22 000. The accountant would say that his profits over the year were £18 000. The economist, however, would disagree.
Preview
Unable to display preview. Download preview PDF.
Copyright information
© 1991 J. Harvey
About this chapter
Cite this chapter
Harvey, J. (1991). Supply (2): Deciding on the Most Profitable Output. In: Intermediate Economics. Palgrave, London. https://doi.org/10.1007/978-1-349-21228-6_8
Download citation
DOI: https://doi.org/10.1007/978-1-349-21228-6_8
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-54552-2
Online ISBN: 978-1-349-21228-6
eBook Packages: Palgrave Social & Cultural Studies CollectionSocial Sciences (R0)