Download App

The theory of the firm under perfect competition — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsThe theory of the firm under perfect competition1 Mark
Question
Explain the producer's equilibrium.

OR

Give meaning of producer's equilibrium.  

✓

Answer

A producer is said to be in equilibrium when he produces that level of output at which his profits are maximum. Producer's equilibrium is also known as profit maximisation situation.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "Answer The Following Questions In One Sentence.[1 Marks Each]" from The theory of the firm under perfect competition→The theory of the firm under perfect competition — all question types→Economics STD 12 Humanities & Commerce question papers→Rajasthan Board STD 12 Humanities & Commerce question papers→Rajasthan Board question paper generator→

Similar questions

Comment on the following statement: “When average product and marginal product are equal, marginal product is at its maximum.”
→
What is meant by excess demand in Macroeconomics?
→
Will the following items be included or not in National Income of India? Give reason for your answer.
Interest paid by one firm to another.
→
What happens to TU when MU is positive?
→
Are fiscal deficits necessarily inflationary?
→
What is cartel?
→
What change occur in the demand for money at higher rate of interest ?
→
Define ‘Trade Surplus’.
→
Categorize the following items into Revenue and Capital Receipts.
Statement-Profits of LIC, a public enterprise.
→
What is the relation between Average Variable Cost and Average Total Cost, if Total Fixed Cost is zero?
→