please answer with solution/explanationPlease answer all questions 1. When the business produce products at break-even point, it is said to beA. A loss for the businessB. A profit for the businessC. Neither a profit nor loss for the businessD. None of the above2. Which of the following shows break-even point?A. TC Revenue B. TC > RevenueC. TC < RevenueD. TC + Revenue3. Which of the following is true for revenue?A. Revenue is the product of profit and break-even pointB. Revenue is the product of price and number of productsC. Revenue is the product of price and expensesD. Revenue is the product of variable cost and fixed cost4. Break-even point is when the level of production at which the profit will be equal toA. OB. 1 C. 2D. 35. Which of the following happens in this situation: Mae bought a box of cupcake for P120 and sellit for P250.A. Make obtain a profitB. Mae obtain a lossC. Mae obtain a break-evenD. None of the above

Business: A business is characterized as an association or ambitious element occupied with business,…

1. When the business produce products at break-even point, it is said to be A. A loss for the business B. A profit for the business C. Neither a profit nor loss for the business D. None of the above 2. Which of the following shows break-even point? A. TC = Revenue B. TC > Revenue C. TC < Revenue

1. When the business produce products at break-even point, it is said to be A. A loss for the business B. A profit for the business C. Neither a profit nor loss for the business D. None of the above 2. Which of the following shows break-even point? A. TC = Revenue B. TC > Revenue C. TC < Revenue

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 7PA

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Concept explainers

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

Question

please answer with solution/explanation

Please answer all questions

1. When the business produce products at break-even point, it is said to be
A. A loss for the business
B. A profit for the business
C. Neither a profit nor loss for the business
D. None of the above
2. Which of the following shows break-even point?
A. TC Revenue B. TC > Revenue
C. TC < Revenue
D. TC + Revenue
3. Which of the following is true for revenue?
A. Revenue is the product of profit and break-even point
B. Revenue is the product of price and number of products
C. Revenue is the product of price and expenses
D. Revenue is the product of variable cost and fixed cost
4. Break-even point is when the level of production at which the profit will be equal to
A. OB. 1 C. 2
D. 3
5. Which of the following happens in this situation: Mae bought a box of cupcake for P120 and sell
it for P250.
A. Make obtain a profit
B. Mae obtain a loss
C. Mae obtain a break-even
D. None of the above

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