Question

13. It is essential that every firm in the short period should: *​

Answer 1

Answer:

Revenue is an important financial indiator, though it is important to note that ... The shutdown rule states that “in the short run a firm should continue to operate if ...

Answer 2

(1) MC = MR  

(2) the MC curve should cut the MR curve from below at the point of equality & then rise upwards.

Explanation:

• The short-term is a time span in which the organization will change its performance by adjusting the variable production factors to maximize profit or to incur minimal losses. The number of firms in the sector is fixed as neither current firms can exit nor new businesses can join.
• The firm is in equilibrium when it makes "maximum profits" as the "difference" between its "overall revenue & its total cost". For this, it is vital  that it should satisfy 2 conditions: (1) MC = MR, and (2) the MC curve should cut the MR curve from below at the point of equality & then rise upwards.
• The price each firm sells its product depends on demand and supply market powers. Every business can sell at the price as much as it wants. Yet it can not sell at a "higher price than the market price" because of competition. The  firm's demand curve is then horizontal at the level such that for the price P = AR = MR.

To know more

what is short run production function?​ - Brainly.in

https://brainly.in/question/13077941