Question

explain the condition of producer equilibrium​

Answer 1

Explanation:

Equilibrium refers to a state of rest when no change is required. A 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. The conditions of producer's equilibrium can be explained through the MR-MC approach.

Answer 2

Equilibrium refers to a state of rest when no change is required. A 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. The conditions of producer's equilibrium can be explained through the MR-MC approach.