Define producers equilibrium discuss briefly the conditions of producer's equilibrium assuming that the producers
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➡️ Producer's Equilibrium: Equilibrium refers to a state of rest when no change is required. A firm (producer) is said to be in equilibrium when it has no inclination to expand or to contract its output. This state either reflects maximum profits or minimum losses.
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The price of commodity a in the market in the determined by the factors of demand supply.
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