Economics A-Level
Supernormal profit
What Supernormal profit means in Economics A-Level, as defined for AQA.
Definition of Supernormal profit
Check what you remember
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Reference: AQA
Illustrated by the rectangular area between the average revenue and average total cost curves at the chosen output.
Topics that use Supernormal profit
- Monopoly and monopoly power (AQA A-Level)
Related terms
- Allocative inefficiency
- Economies of scale
- Market concentration
- Monopoly power
- Price determination
- Product differentiation
- X-inefficiency
- Advertising
Using Supernormal profit in the exam
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