CBSE Class 11-commerce Answered
how to explain producer equilibrium using mr- mc approach?
Asked by gagandec252002 | 03 Feb, 2020, 02:35: AM
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.
Answered by Christina | 03 Feb, 2020, 09:40: AM
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