Answer:
(i) reveals the contribution of the last unit of production to total profit
and
(ii) is helpful in making profit-maximizing production decisions.
Explanation:
As MR and MC can tell u what the last output contributed to the profit. change in profit = MR-MC. So we can gain insight on the profit and firm can then according to this make decision on how much to produce i.e. level where MR = MC.
