The following table shows marginal costs for a perfectly competitive firm:   Output 100 200 300 400    500 Marginal cost $5 $10 $20 $40   $70   Use this information to draw the firm's marginal cost Suppose the shut-down price is $10. Draw the firm's short-run supply Suppose there are 100 identical firms with the same marginal cost curve. Draw the short-run industry supply

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