Create a firm model that shows how economists explains the firm level of production that maximizes its profit. Do not use numbers. Just graphs and detailed explanation. Make sure to explain the concavity of the production function and what does it mean.

MC ( marginal cost ) = MR ( marginal revenue )

Explanation:

A Firm's level of production that maximizes the profit of the firm is the level where by the MC = MR. i.e. Marginal Cost = Marginal Revenue as shown in the graph attached . shade part depict region where Firm will make the most profit

Attached below is th graphical illustration as required by the question

answer; /// the best answer to the above question is; the main economic goal that a society consider when deciding the best way to distribute its wealth is equity, this to ensure that all resources are equally distributed; ///(a) (economic equity)

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