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The situation in which total revenue is equal to total cost, is known as
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- monopolistic competition
- equilibrium level of output
- break-even point
- perfect competition
- monopolistic competition
Correct Option: C
In economics and cost accounting, the break-even point (BEP) is the point at which cost or expenses and revenue are equal: there is no net loss or gain, and one has "broken even". A profit or a loss has not been made, although opportunity costs have been "paid", and capital has received the risk-adjusted, expected return.