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CBSE Class 11-commerce Answered

how to explain producer equilibrium using mr- mc approach?   
Asked by gagandec252002 | 03 Feb, 2020, 02:35: AM
answered-by-expert Expert Answer
Producer’s equilibrium means that the producers attain optimum output level with the given factors of production where the producer can maximise the profit.
According to marginal revenue and marginal cost approach, producer strikes equilibrium when thefollowing two conditions are satisfied:MR = MCMC is rising or MC curve cuts MR curve from below

Know the producers equilibrium using MR-MC approach
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