Question

under equilibrium which firm show MC=MR​

Answer 1

In the above figure (A), SS is the supply curve and DD is a demand curve and AR and MR is equal. An industry is in equilibrium at the point “E”. OP is the equilibrium price and OQ is the equilibrium Quantity output. The industry gets equilibrium at price OP

where demand and supplies are equal. The firm is in equilibrium by making MC = MR and MC cuts MR below at the point E. So that it is called firm equilibrium. The firm earned an abnormal profit equal to area P

EBA. But it should be noticed that if the firm earned supernormal profit or loss, it is only short-run equilibrium hence, the third condition for equilibrium can be only realized in a long run.

The industry gets equilibrium at price OP, where demand and supplies are equal. The firm is in equilibrium by making MC = MR and MC cuts MR below at the point E. So that it is called firm equilibrium. The firm earned an abnormal profit equal to area P1EBA.

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