Economy, asked by isube3229, 1 year ago

How to producer's equilibrium determined in case of perfect competiotion using mr and mc approach?

Answers

Answered by Anonymous

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...

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