explain producer's equilibrium with the help of isoquant
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Producer's equilibrium can be obtained with the help of isoquant and iso-cost line. An isoquant enables a producer to get those combinations of factor that yield maximum output. ... For attaining equilibrium, a producer needs to obtain a combination that helps in producing maximum output with the least price.
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4
Answer:
Producer's equilibrium can be obtained with the help of isoquant and iso-cost line. An isoquant enables a producer to get those combinations of factor that yield maximum output. ... For attaining equilibrium, a producer needs to obtain a combination that helps in producing maximum output with the least price.
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