Economy, asked by yb633328gmailcom, 1 year ago

Explain to the producer equilibrium of the MC and MR Approach.(class11)

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Answered by Nyaberiduke

7

Marginal cost is an additional cost required to produced one extra unit of output while marginal revenue is an additional relative change in revenue gained after selling one unit of unit sale.The both are meant to mmaximize the profits.the Producers equilibrium is met when the marginal revenue equals to the marginal cost.

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