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For a perfectly competitive firm, the marginal cost curve is identical to the firm’s ________________ .
| demand curve |
| supply curve |
| average total cost curve |
| average variable cost curve |
Expert Answer
For a perfectly competitive firm, the marginal cost curve is identical to the firm’s supply curve.
But the above statement is partly correct as the marginal cost curve is identical to the supply curve only to the extent of area which lies above AVC.
