Question
What is the supply curve of a firm in Perfect
Competition?Solution
The individual supply curve shows how much output a firm in a perfectly competitive market will supply at any given price. Provided that a firm is producing output, the supply curve is the same as marginal cost curve. When market price is below Average variable cost (AVC), the firm will not produce and would shut down. As such, the supply curve in a perfectly competitive market would only be that part of MC curve which is above AVC. 
Repetition of sound produced by reflection of sound waves is called-
Which of the following statement is CORRECT?
Sodium Chloride is an example of
How many electrons are involved in the oxidation by KMnO4 in basic medium
Which material is commonly used for making casts and sculptures?
Identify the Correct Descriptions for the Following Thermodynamic Processes:
   (I) Isobaric Process The process which takes place at cons...
What type of equilibrium is it when the center of gravity is at the highest point?
Which of the following statements about glucose is incorrect?
What is the colour of base?
Which of the following rock is not sedimentary rock?
