A firm's marginal cost curve in a perfectly competitive product market is the same as its ________ curve. Similarly, a firm's marginal revenue product curve in a perfectly competitive labor market is the same as its ________ curve.

A) demand; supply
B) supply; demand
C) demand; demand
D) supply; supply

Marginal Cost Curve

The curve illustrating the change in total production cost with the addition of one more unit of product, reflecting the principle of increasing costs.

Perfectly Competitive

A market structure where numerous small firms compete against each other selling identical products, and where no single firm can influence the market price.