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Economics miscellaneous

  1. The situation in which total revenue is equal to total cost, is known as

    1. monopolistic competition
    2. equilibrium level of output
    3. break-even point
    4. perfect 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.



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