Producer's equilibrium - class-XII

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Multiple Choice

As per Total Revenue less Total Cost (TR - TC) approach of looking at the producer's equilibrium, which of the following condition is necessary for producer's equilibrium?

  1. The difference between TR and TC is maximum
  2. Profits falls if one more unit of output is produced
  3. Both (A) and (B)
  4. Either (A) or (B)
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