Suppose there are 100 identical firms in the market and the luggage industry is perfectly competitive....

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Suppose there are 100 identical firms in the market and the luggage industry is perfectly competitive. What does the market s

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Answer 1

Answer #1

A perfectly competitive firm's supply curve is usually that portion of its marginal cost curve that lies above the minimum of the average variable cost. Therefore, Option A is correct.

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Answer 2

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