Practicing Success
Practicing Success
CUET Preparation Today
| For a perfectly competitive firm, supply curve is essentially a part of |
MR Curve MC Curve AR Curve TR Curve |
| MC Curve |
| A firms short run supply curve is the rising part of the SMC curve from and above the minimum AVC. A firms long run supply curve is the rising part of the LRMC curve from and above the minimum LRAC. So, for a perfectly competitive firm, Supply curve is essentially a part of MC curve (be it in long run or short run). |
