Defend or refute the statement. Write ‘yes’ or ‘no’ with reaso – InterviewSolution

InterviewSolution

1.	Defend or refute the statement. Write ‘yes’ or ‘no’ with reason:A producer strikes his equilibrium when the difference between TR and TC is maximised.
Answer» Yes. A producer strikes his equilibrium when he produces that amount of output at which the difference between total revenue and total cost is maximum. Because, gross profit = TR – TC.

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