Economics · Market Structures
A firm operating in a perfectly competitive market has reached its short-run equilibrium where the Marginal Revenue (MR) is ₹120. The firm is currently producing 500 units of output. At this level of production, the Average Cost (AC) is calculated to be ₹95. Determine the firm's total profit or loss status.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹12,500 Super-normal Profit✓
- 2₹15,000 Normal Profit
- 3₹10,000 Super-normal Profit
- 4₹12,500 Loss
Correct answer
₹12,500 Super-normal Profit
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