1. 

   rajiv_p_lk_2001 Member

   Under perfect competition, can we assume that the Marginal Cost curve is equivalent to the supply curve?

    

   rajiv_p_lk_2001, Sep 21, 2009

   #1
2. 

   Graham Aylott Member

   Under Perfect Competition, the individual firm's supply curve is equal to its marginal cost above the point where it cuts its average variable cost curve. This is discussed on page 11 in Chapter 8 of the Course Notes.

    

   Graham Aylott, Sep 21, 2009

   #2

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