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Standard XI
Economics
Calculating Profits
A basic condi...
Question
A basic condition to be met in order to make profits is
.
A
P = AVC
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B
P > AVC
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C
P < ATC
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D
P < MC
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Solution
The correct option is
B
P > AVC
If P > AVC, then the firm will make positive profits.
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Distinguish between Average Propensity to Consume (ACP) and Marginal Propensity to Consume (MPC).
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Calculating Profits
Standard XI Economics
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