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11. Perfect Competition
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Problem 1
Problem 2
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Problem 4
Problem 5
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Problem 7
Problem 8
Problem 9
Problem 10
Problem 11
Problem 12
Problem 13
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Problem 15
11. Perfect Competition
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11. Perfect Competition / Market Supply Curve in the Short Run and Long Run / Problem 11
Problem 11
Why do individual firms' supply curves coincide with their marginal cost curves in the short run?
A
Because firms supply where price is below marginal cost.
B
Because firms supply where price is above average variable cost.
C
Because firms supply where price is below average total cost.
D
Because firms supply where price is equal to fixed cost.
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