$T R - T V C =$

Gross profit

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Net profit

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Normal profit

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None of the above

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Solution

The correct option is B Gross profit
TR - TVC = Gross profit. Gross profit is obtained by subtracting Total variable cost from the total revenue of the firm. While calculating gross profit, total fixed fixed cost is not taken into account.

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T R = T C

\frac{T F C}{q} + \frac{T V C}{q}

=

Calculate TVC and AVC from the following table :

$\begin{matrix} Output (in units) & 0 & 1 & 2 & 3 TC (Rs) & 50 & 150 & 230 & 290 \end{matrix}$

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