626
edits
Changes
Jump to navigation
Jump to search
Line 2:
Line 2: +
no edit summary
Under assumptions of perfect competition, the supply curve is the part of the marginal cost curve above its intersection at minimum average variable cost. This represents the 'price equals marginal cost' condition.
Under assumptions of perfect competition, the supply curve is the part of the marginal cost curve above its intersection at minimum average variable cost. This represents the 'price equals marginal cost' condition.
[[Category:Economics]]