How to producer's equilibrium determined in case of perfect competiotion using mr and mc approach?
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Heya..
In case of perfect competition producer equilibrium is determined when....
* MR= MC...
Means the total cost incurred in production it's equal to it's revenue ....
* MC is rising...
Rising MC means 2nd stage of production where he get maximum profit...
In case of perfect competition producer equilibrium is determined when....
* MR= MC...
Means the total cost incurred in production it's equal to it's revenue ....
* MC is rising...
Rising MC means 2nd stage of production where he get maximum profit...
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