Firms optimization problem

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The FOC and local SOC for the firm's optimization problem can be used to prove the law of supply, meaning exactly: if the firm supplies a positive quantity at the current market price, then at a higher price it will supply a larger quantity. Without doing any additional mathematics, show that a violation of the law of supply would imply a contradiction of the local SOC. You can assume that the firm's marginal cost function is differentiable.

Reference no: EM13743806

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