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I have been asked to go into depth fully about why the short-run supply curve for a firm in perfect competition is the rising portion
I have been asked to go into depth fully about why the short-run supply curve for a firm in perfect competition is the rising portion of the firm's marginal cost curve above the firm's minimum AVC curve.
I am supposed to come up with a page response to this question, so I could really use some guidance and help understanding the concept more. Thanks!
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