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Fill in the Blank. "For a Firm to Be in Equilibrium, Marginal Revenue (Mr) and Marginal Cost (Mc) Must Be __________ and Beyond that Level of Output Marginal Cost Must Be ____________." - Economics

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Fill in the Blanks

Fill in the blank.
"For a firm to be in equilibrium, Marginal Revenue (MR) and Marginal Cost (MC) must be __________ and beyond that level of output Marginal Cost must be ____________."

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Solution

"For a firm to be in equilibrium, Marginal Revenue (MR) and Marginal Cost (MC) must be equal and beyond that level of output Marginal Cost must be rising".

Concept: Concept of Producer's Equilibrium
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