Economy, asked by Anonymous, 10 months ago

what do uh mean by producers equilibrium?!

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Answered by ranishubhashni

Explanation:

Equilibrium refers to a state of rest when no change is required. A firm (producer) is said to be in equilibrium when it has no inclination to expand or to contract its output. This state either reflects maximum profits or minimum losses.

There are two methods for determination of Producer’s Equilibrium:

1. Total Revenue and Total Cost Approach (TR-TC Approach)

2. Marginal Revenue and Marginal Cost Approach (MR-MC Approach)

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Answered by Anonymous

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Producer's Equilibrium refers to the state where a producer is earning maximum possible profit by producing a particular level of output. ... Thus, in order to reach equilibrium, he will have to sell the output at a price that is equal or greater than the minimum of SAVC

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what do uh mean by producers equilibrium?!