If Marginal Cost is equal to Marginal Revenue at two output levels, then any one of the output level can be taken as state of producer's eqauilibrium. Defend or refute.

If Marginal Cost is equal to Marginal Revenue at two output levels, th

1.	If Marginal Cost is equal to Marginal Revenue at two output levels, then any one of the output level can be taken as state of producer's eqauilibrium. Defend or refute.
Answer» SOLUTION :The given STATEMENT is refuted. In such a situation, only that output level is the state of producer's equilibrium when marginal COST becomes GREATER than marginal revenue after the equilibrium.