At a certain output level, the total revenue and total cost of a firm a equal. What is this situation termed as? Whether the firm is earning normal profits or not.

At a certain output level, the total revenue and total cost of a firm

1.	At a certain output level, the total revenue and total cost of a firm a equal. What is this situation termed as? Whether the firm is earning normal profits or not.
Answer» Solution :The SITUATION when TOTAL REVENUE is equal to total cost is TERMED as Breack-even Point. YES, the firm is earning profits as normal profit is that amount which is included in total cost.