2. A) In perfect competition marginal cost curve of a firm shows supplycurve of the firm in short run. True/False. Elaborate your answer theoreticallyand graphically.B)Theoretically and graphically explain how firm choose optimumcombination of inputs in short run and in the long run.

A) In perfect competition marginal cost curve of a firm shows supply curve of the firm in short run. True/False. Elaborate your answer theoretically and graphically. Theoretically and graphically explain how firm choose optimum combination of inputs in short run and in the long run. B)

A) In perfect competition marginal cost curve of a firm shows supply curve of the firm in short run. True/False. Elaborate your answer theoretically and graphically. Theoretically and graphically explain how firm choose optimum combination of inputs in short run and in the long run. B)

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 3CQQ

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Question

2. A) In perfect competition marginal cost curve of a firm shows supply
curve of the firm in short run. True/False. Elaborate your answer theoretically
and graphically.
B)
Theoretically and graphically explain how firm choose optimum
combination of inputs in short run and in the long run.

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