Define producer's equilibrium. Stateits conditions. ""Or Explain the meaning and conditions of producer's equilibrium. (Using a numerical example)

Define producer's equilibrium. Stateits conditions. ""Or Explain the

1.	Define producer's equilibrium. Stateits conditions. ""Or Explain the meaning and conditions of producer's equilibrium. (Using a numerical example)
Answer» Solution :A PRODUCER is SAID to be in equilibirium when it has no inclination to EXPAND or contract its output.Producer will be in equilibirium when-1. MR=MC2. MR cuts MC from below.