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Giving reasons identify the equilibriu...

Giving reasons identify the equilibrium level of output and find profit at this ouptut using 'Marginal Cost and Marginal Revenue' approach from the following :

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Reasons :
the producer is in equilibrium at 3 units of output because at this output
`(1) MC=MR`
`(2) MC gt MR ` after equilibrium so that profit declines as more is produced.
Profit : at 3 units of output `=TR -TC =42 -40 =2`
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