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

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