In particular, a perfectly competitive firm's marginal cost curve is also its supply curve.This conclusion, however, only applies to perfect competition. Firms operating in market structures that do not equate price and marginal cost, but rather equate marginal revenue and marginal cost.s such, the marginal cost curve is not the supply curve for the firm.Long-Run ProductionIn the long run, with all inputs variable, a perfectly competitive industry reaches equilibrium at the output that achieves the minimum efficient scale, that is, the minimum of the long run average cost curve.
A tutor is an instructor who gives private lessons. Shadow education is a name for private supplementary tutoring that is offered outside the mainstream education system. Normally, a tutor will help a student who is struggling in a subject of some sort. Also, a tutor may be provided for a student who wants to learn at home.
Definition of college for English Language Learners. : 1  a school in the U.S. that you go to after high school : a school that offers courses leading to a degree (such as a bachelor's degree or an associate's degree) : 2  a part of an American university that offers courses in a specified subject.