As per MR MC approach two conditions are required for a firm to be in equilibrium
A. Marginal revenue should be equal to marginal cost
B. Marginal cost curve should cut marginal revenue curve from below
C. Both a& b
D. None of the above
Answer:C
As per MR MC approach two conditions are required for a firm to be in equilibrium
A. Marginal revenue should be equal to marginal cost B. Marginal cost curve should cut marginal revenue curve from below C. Both a& b D. None of the above