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From the following information about a f...

From the following information about a firm, find the firms equilibrium output in terms of marginal cost and marginal revenue. Give reasons . Also find profit at this output.

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The correct Answer is:
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The producer's achieves equilibrium at 4 units output. It is because this level of output satisfies both the conditions of producer's equilibrium,
(i) MC is equal to MR : and
(ii) MC becomes greater than MR after this level of output.
Profit =TR -TC =28 -28 =0
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