How do we find a producers ‘equilibrium?
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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. So, the producer is at equilibrium at OM units of output.
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Answer:
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. So, the producer is at equilibrium at OM units of output.
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