Question: A firm will earn normal profit when—
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a.Average revenue = Marginal revenue
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b.Average cost = Marginal cost
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c.Total revenue = Total cost
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d.Marginal cost = Marginal revenue
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e.None of the above
Answer: d
 Average revenue = Marginal revenue b) Average cost = Marginal cost c) Total revenue = Total cost d) Marginal cost = Marginal revenue e) None of the above Ans. d) Marginal cost = Marginal revenue
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