CBSE Class 12-commerce Answered
Find the level of output at which the producer is in
equilibrium by using marginal revenue and cost method. Justify the statement.
Output
Price
Total
Cost
1
15
12
2
15
21
3
15
29
4
15
36
5
15
45
6
15
60
7
15
76
Asked by Topperlearning User | 25 Apr, 2016, 02:51: PM
Expert Answer
Output |
Price |
TC |
TR |
MR |
MC |
TR-TC |
1 |
15 |
12 |
15 |
15 |
12 |
3 |
2 |
15 |
21 |
30 |
15 |
9 |
9 |
3 |
15 |
29 |
45 |
15 |
8 |
16 |
4 |
15 |
36 |
60 |
15 |
7 |
24 |
5 |
15 |
45 |
75 |
15 |
9 |
30 |
6 |
15 |
60 |
90 |
15 |
15 |
30 |
7 |
15 |
76 |
105 |
15 |
16 |
29 |
The producer is in equilibrium only at 6th unit of output where MR is equal to MC with the maximum profit.
Answered by | 25 Apr, 2016, 04:51: PM
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ANSWERED BY EXPERT
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Asked by Topperlearning User | 25 Apr, 2016, 02:51: PM
ANSWERED BY EXPERT
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 02:51: PM
ANSWERED BY EXPERT
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 02:51: PM
ANSWERED BY EXPERT