Time management is very much important in IIT JAM. The eduncle test series for IIT JAM Mathematical Statistics helped me a lot in this portion. I am very thankful to the test series I bought from eduncle.
Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
Nisha Sharma posted an Question
October 01, 2021 • 16:24 pm
![]()
30 points
30 points
- UGC NET
- Commerce
Explain price and equilibrium determination under monopoly
1 Answer(s)
Answer Now
- 0 Likes
- 2 Comments
- 0 Shares
-
Priya sarda
![best-answer]()
The Equilibrium level in monopoly is that level of output in which marginal revenue equals marginal cost. The producer will continue producer as long as marginal revenue exceeds the marginal cost. At the point where MR is equal to MC the profit will be maximum and beyond this point the producer will stop producing. According to economic theory, a firm should expand production until the point where marginal cost is equal to marginal revenue. According to the cost-benefit analysis, a company should continue to increase production until marginal revenue is equal to marginal cost.
![cropped7357866386947957465.jpg]()
![cropped7254956898951314718.jpg]()
![eduncle-logo-app]()
why he will stop producing when he is getting more profits
Do You Want Better RANK in Your Exam?
Start Your Preparations with Eduncle’s FREE Study Material
- Updated Syllabus, Paper Pattern & Full Exam Details
- Sample Theory of Most Important Topic
- Model Test Paper with Detailed Solutions
- Last 5 Years Question Papers & Answers
Sign Up to Download FREE Study Material Worth Rs. 500/-
Priya sarda
According to economic theory, a firm should expand production until the point where marginal cost is equal to marginal revenue. According to the cost-benefit analysis, a company should continue to increase production until marginal revenue is equal to marginal cost.