Business Studies, asked by nihal2922, 10 months ago

What is the relationship between a perfectly competitive firm's marginal cost curve and its supply curve?

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Answered by dayanandsaraswati74

2

Answer:

I hope it will help you

Explanation:

PERFECT COMPETITION, SHORT-RUN SUPPLY CURVE: A perfectly competitive firm's supply curve is that portion of its marginal cost curve that lies above the minimum of the average variable cost curve. A perfectly competitive firm maximizes profit by producing the quantity of output that equates price and marginal cost.

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