Solved: Explain the meaning of the equilibrium point, Microeconomics

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Explain the meaning of the equilibrium point

Solve the below:

Q: A large wholesale nursery sells shrubs to a retail store. The cost C(x) and revenue R(x) in dollars for x shrubs are listed below:

C(x) = 15x +12000
R(x) = 18 x

a) find the equilibrium point.

b) explain the meaning of the equilibrium point.

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Microeconomics: Explain the meaning of the equilibrium point

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Microeconomics: Explain the meaning of the equilibrium point

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