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Explain the fact that the short-run supply curve for a price taking firm is that segment of its marginal cost(MC) curvethat lies above the average
Explain the fact that the short-run supply curve for a price taking firm is that segment of its marginal cost(MC) curvethat lies above the average variable costcurve. Show and explain clearly shut-down and break-even points on your diagram. EXPLAIN YOUR REASONING IN DETAIL.
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