You are working as a junior market analyst for Super Cobalt, a Cobalt mining firm. Your firm is a producer in a competitive market for mined and processed cobalt that includes 23 other firms. Your company learns that a new cobalt mining firm, Mondo Cobalt, will soon come online that is similar in size and efficiency, although not necessarily with the same marginal cost of production for a given output level, as Super Cobalt or the other firms already competing in the market.

Your boss has asked you to predict how the entry of Mondo Cobalt is likely to affect industry supply. A fellow junior analyst in the neighboring cubicle presents you with the following: "To figure this out, we first have to estimate Mondo Cobalt's marginal cost function, and then add this result directly to Super Cobalt's marginal cost function, plus the marginal cost functions of our 23 other competitors. That will give us market-level inverse supply for mined and processed cobalt. Do you team up with your bosses plan?

Do you go to your boss with your cubicle neighbor's plan? Explain why or why not using complete sentences and one or more economic graphs