In a perfectly competitive market, a firm produces and sells a certain amount of goods. Among the following what reflect the firm's profit? Option 1: Total Cost - Variable Cost. Option 2: Total Revenue - Total Cost. Option 3: Variable Cost - Marginal Cost. Option 4: Total Revenue - Average Revenue.

The answer is 'Total Revenue - Total Cost.'. View full solution:

CUET Economics - In a perfectly competitive market, a firm produces and sells a certain amount of goods. Among the following what reflect the firm's profit? | PYQs + Solutions

CUET Economics 2025 27 May Shift 2

Micro

Easy

Total Cost - Variable Cost.

Total Revenue - Total Cost.

Variable Cost - Marginal Cost.

Total Revenue - Average Revenue.

✅ Correct Option: 2

Related questions:

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Match List-I with List-II

List-I	List-II
(A) Control Price	(I) Set below the equilibrium price
(B) Floor Price	(II) Fixed by the government for the labourers
(C) Minimum Wage Legislation	(III) Set above the equilibrium price
(D) Market Equilibrium	(IV) when demand and supply curve intersect.

Choose the correct answer from the options given below:

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(D) Asymmetric Information.

Choose the correct answer from the options given below:

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