Economy, asked by rehainaryan0143, 7 months ago

2.
What is the meaning of firm's equilibrium ?

Answers

Answered by salilsathya58

0

Explanation:

A firm is said to be in equilibrium when it has no incentive either to expand or to contract its output. A firm would not like to change its level of output only when it is earning maximum money profits. Hence, making a maximum profit or incurring a minimum loss is an important condition of a firm's equilibrium.

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