Question

explain the condition of producer equilibrium with the help of diagram​

Answer 1

Answer:

Let us understand the determination of equilibrium with the help of a diagram: Producer's Equilibrium is determined at OM level of output corresponding to point E as at this point: (i) MC = MR; and (ii) MC is greater than MR after MC = MR output level. 2. MC is greater than MR after MC = MR output level.