Which of the following conditions satisfy for producer's equilibrium?
1. Marginal Revenue = Marginal Cost
2. Marginal Cost must be rising.
Choose the correct code.
1
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2
Which of the following conditions satisfy for producer's equilibrium?
1. Marginal Revenue = Marginal Cost
2. Marginal Cost must be rising.
Choose the correct code.