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MICROECONOMICS CH : 10 PRODUCER'S EQUILIBRIUM — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 10 PRODUCER'S EQUILIBRIUM1 Mark
Question
What is meant by producer's equilibrium?
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Answer

Producer's equilibrium refers to a situation where profits are maximised, ie, the difference between total revenue and total cost is maximised or losses are minimised.

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