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MICROECONOMICS CH : 10 PRODUCER'S EQUILIBRIUM — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 10 PRODUCER'S EQUILIBRIUM1 Mark
Question
What are extra-normal profits?
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Answer

Profits are said to be extra-normal or abnormal when: TR > TC or AR > AC.

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