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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.
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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.
