Match List-I with List-II List-

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Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Theory of Firms under Perfect Competition

Question:

Match List-I with List-II

List-I	List-II
(A) The minimum level of profit that is needed to keep a firm in the existing business.	(I) Super-normal profit
(B) Profit that a firm earns over and above the normal profit.	(II) Loss
(C) AR < AC	(III) Break even point
(D) The point of minimum average cost at which the supply curve cuts the AC curve.	(IV) Normal Profit

Choose the correct answer from the options given below:

Options:

(A)-(I), (B)-(II), (C)-(III), (D)-(IV)

(A)-(IV), (B)-(I), (C)-(II), (D)-(III)

(A)-(IV), (B)-(II), (C)-(I), (D)-(III)

(A)-(III), (B)-(IV), (C)-(I), (D)-(II)

Correct Answer:

(A)-(IV), (B)-(I), (C)-(II), (D)-(III)

Explanation:

The correct answer is Option (2) → (A)-(IV), (B)-(I), (C)-(II), (D)-(III)

List-I	List-II
(A) The minimum level of profit that is needed to keep a firm in the existing business.	(IV) Normal Profit
(B) Profit that a firm earns over and above the normal profit.	(I) Super-normal profit
(C) AR < AC	(II) Loss
(D) The point of minimum average cost at which the supply curve cuts the AC curve.	(III) Break even point