BANK SEBI Grade A Phase 1 & Phase 2 Mock Test 2024 Accounting and Auditing Cost and Management Accounting Standard costing
In a perfectly competitive market, a firm to be in equilibrium in the long run achieves normal profit only when
1
Average cost and average revenue will be equal
2
Marginal cost and marginal revenue will be equal
3
Average variable cost and marginal revenue will be equal
4
AC = I, MC = AR = MR are all equal
5
Average variable cost and average revenue will be equal