Economy, asked by ganie798, 4 months ago

explain producer's equilibrium with profit maximization condition.

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Answered by Anonymous

3

Answer:

Producer's equilibrium refers to the state in which a producer earns his maximum profit or minimise its losses. According to MR-MC approach, the producer is at equilibrium,, when the Marginal Revenue (MR) is equal to the Marginal Cost (MC) and Marginal Cost curve must cut the Marginal Revenue curve from below.

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