Match List-I with List-II
|
List-I |
List-II |
|
(A) Total revenue |
(I) Minimum of LRAC curve. |
|
(B) Supply |
(II) A firm earns only normal profit. |
|
(C) Shut down point |
(III) Market price multiplied by the firm's output. |
|
(D) Break-even point |
(IV) Quantity sold at a given price. |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → (A)-(III), (B)-(IV), (C)-(I), (D)-(II)
|
List-I |
List-II |
|
(A) Total revenue |
(III) Market price multiplied by the firm's output. |
|
(B) Supply |
(IV) Quantity sold at a given price. |
|
(C) Shut down point |
(I) Minimum of LRAC curve. |
|
(D) Break-even point |
(II) A firm earns only normal profit. |