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Consider the following statements: For a firm to be in equilibrium1. MR = MC2. MC curve must cut MR curve from below at the point of equilibrium3. TR = TC Which of the above statements are correct?

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Microeconomics is a branch of economics that analyzes market behavior of individuals and firms in order to understand their decision-making processes.


Consider the following statements: For a firm to be in equilibrium<br>1. MR = MC<br>2. MC curve must cut MR curve from below at the point of equilibrium<br>3. TR = TC Which of the above statements are correct?






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