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For Prices Above the Minimum Average Variable Cost, a Perfectly

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For prices above the minimum average variable cost, a perfectly competitive firm's supply curve is

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Definitions:

Assimilation

The cognitive process of fitting new information into pre-existing cognitive schemas, perceptions, and understanding.

Schema

A cognitive framework or concept that helps organize and interpret information.

Grasping

The act of taking hold of something firmly with the hands or arms, which is also a reflex seen in newborns.

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or otherwise sensed, a concept developed in early infancy.

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