what is the proper define of producers equilibrium

1.	what is the proper define of producers equilibrium
Answer» that\'s I know plz give me ans in only 1mark??<br>Equilibrium\xa0refers to a state of rest when no change is required. A firm (producer) is said to be in\xa0equilibrium\xa0when it has no inclination to expand or to contract its output. This state either reflects maximum profits or minimum losses.\xa0Producer\'s equilibrium\xa0or optimisation occurs when he earns maximum profit with optimal combination of factors. A profit maximisation firm faces two choices of optimal combination of factors (inputs).\xa0Producer\'s equilibrium\xa0is often explained in terms of marginal revenue (MR) and marginal cost (MC) of production. Profit is maximized (or a\xa0producer\xa0strikes his\xa0equilibrium) when two\xa0conditions\xa0are satisfied – (i) MR = MC, and (ii) MC is rising (or MC is greater than MR beyond the point of\xa0equilibrium\xa0output).

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