Q121
Normal profit is called normal because
A.
It is neither very high nor very low
B.
It is minimum acceptable to the producer
AnswerC.
It is minimum which buyer wants to pay
D.
It is the maximum allowed by government
Answer: Option B
Solution
Answer: Option B
Solution:
Normal profit is called normal because It is minimum acceptable to the producer. Normal profit is a situation where a firm makes sufficient revenue to cover its total costs and remain competitive in an industry.