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Solution - Concept of Producer's Equilibrium

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Explain the conditions of producer’s equilibrium with the help of a numerical example.

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Explain the conditions of a producer's equilibrium in terms of marginal cost and marginal revenue. Use diagram.

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From the following information about a firm, find the firms equilibrium output in terms of marginal cost and marginal revenue. Give reasons. Also find profit at this output

Output (units)Total Revenue (Rs)Total Cost (Rs)
178
21415
32121
42828
53536

 

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Solution for concept: Concept of Producer's Equilibrium. For the courses 12th CBSE (Arts), 12th CBSE (Commerce), 12th CBSE (Science)
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