Explain the conditions for equilibrium of a firm
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Explanation:
Conditions of the Equilibrium of Firm:
A firm is said to be in equilibrium when it satisfies the following conditions:
1. The first condition for the equilibrium of the firm is that its profit should be maximum.
2. Marginal cost should be equal to marginal revenue.
3. MC must cut MR from below.
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Answer.
Where AC=MC
Explanation:
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