Match List-I with List-II

List-I	List-II
(A) The minimum level of profit that is needed to keep a firm in the existing business.	(I) Super-normal profit
(B) Profit that a firm earns over and above the normal profit.	(II) Loss
(C) AR < AC	(III) Break even point
(D) The point of minimum average cost at which the supply curve cuts the AC curve.	(IV) Normal Profit

Choose the correct answer from the options given below:

1. Normal Profit (A matches with IV)

For a business to survive and remain in its current industry, it must earn a baseline level of profit that covers all its implicit costs (like the entrepreneur's opportunity cost). This absolute minimum threshold required to keep the firm operating is known as Normal Profit.

2. Super-normal profit (B matches with I)

When a firm is highly successful and its revenues exceed all explicit and implicit costs, the surplus it generates is called Super-normal Profit (also known as economic profit). It is simply the profit earned above the baseline normal profit.

3. Loss (C matches with II)

The formula $AR < AC$ stands for Average Revenue being less than Average Cost. Average Revenue is essentially the price per unit the firm receives, and Average Cost is the expense to produce that unit. When the cost per unit is higher than the revenue it brings in, the firm is operating at a Loss.

4. Break even point (D matches with III)

As established in standard cost theory, the specific point on a graph where the firm's supply curve (its Marginal Cost curve) intersects the minimum point of its Average Cost (AC) curve is the Break-even point. At this exact juncture, the firm perfectly covers its costs and earns zero economic profit (i.e., it earns exactly a normal profit).

Conclusion:

Following these economic definitions, the correct matching sequence is (A) - (IV), (B) - (I), (C) - (II), (D) - (III).