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 |
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(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:
Answer & explanation
Correct answer: option 2
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 |