microbook_3e-page110

microbook_3e-page110 - Short-Run Supply Curve At any market...

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Short-Run Supply Curve x At any market price, the marginal cost curve shows the output level that maximizes profit. x Thus, the marginal cost curve of a perfectly competitive profit- maximizing firm is the firm’s short-run supply curve.
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This note was uploaded on 12/29/2011 for the course ECO 311 taught by Professor Willis during the Fall '10 term at SUNY Stony Brook.

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