Try to make you answer as easily understandable as possible--and, if you like, reflect on why this might be important to economic theory more generally.

1. The supply curve (or schedule) simply tells us the functional relationship between what two variables?
2. What is the law of supply?
3. The marginal cost curve tells us the functional relationship between what two variables?
4. Given that profit maximizing firms produce a quantity (Q) where MC = MR, and given that under perfect competition MR = P, what is the relationship between supply and marginal costs?
5. What explains the law of supply?