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Question
Profit of a firm is maximum when ______.
Options
TR = TC
TR < TC
The difference between TR and TC is the greatest
TC is zero
MCQ
Fill in the Blanks
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Solution
Profit of a firm is maximum when the difference between TR and TC is the greatest.
Explanation:
Profit is maximised at the output level where the gap between total revenue and total cost is the largest.
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