Question : The situation in which total Revenue equals total cost, is known as :
Option 1: monopolistic competition.
Option 2: equilibrium level of output .
Option 3: break even point .
Option 4: perfect competition .
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Correct Answer: break even point .
Solution : The correct option is break even point .
The situation in which total revenue equals total cost is known as the "break-even point." At this point, a business is neither making a profit nor incurring a loss. It is essentially covering all its costs with its generated revenue.
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