is there any difference b/w Break even point and equilibrium?
Samyak,
Yes, there is a difference between break even point and equilibrium. At Break even point, the price is just equal to minimum of SAC and the firm earns normal profit. In such a situation, the firm continues production but the revenue earned is just equal to meet its fixed and variable costs. On the other hand, Producer's equilibrium is defined as a state where a producer is earning maximum possible profit by producing a particular level of output. Here, producers do not have any incentive to move away from this point(i.e. to increase or decrease production) because such deviation will reduce his profits.
Yes, there is a difference between break even point and equilibrium. At Break even point, the price is just equal to minimum of SAC and the firm earns normal profit. In such a situation, the firm continues production but the revenue earned is just equal to meet its fixed and variable costs. On the other hand, Producer's equilibrium is defined as a state where a producer is earning maximum possible profit by producing a particular level of output. Here, producers do not have any incentive to move away from this point(i.e. to increase or decrease production) because such deviation will reduce his profits.