Match List-I with List-II
|
List-I |
List-II |
|
(A) Normal profit |
(I) Minimum level of profit need by firm to be in business. |
|
(B) Shut down point |
(II) Minimum level of LRAC curve |
|
(C) Break-even point |
(III) Profit Over and above normal profit |
|
(D) Super-normal profit |
(IV) The point on which firm earn only normal profit. |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → (A)-(I), (B)-(II), (C)-(IV), (D)-(III)
|
List-I |
List-II |
|
(A) Normal profit |
(I) Minimum level of profit need by firm to be in business. |
|
(B) Shut down point |
(II) Minimum level of LRAC curve |
|
(C) Break-even point |
(IV) The point on which firm earn only normal profit. |
|
(D) Super-normal profit |
(III) Profit Over and above normal profit |