2230EconomicsMedium
In the long run, the competitive firm’s supply curve is the?
Aportion of the marginal cost curve that lies above the average total cost curve
Bentire marginal cost curve
Cupward-sloping portion of the average total cost curve
Dupward-sloping portion of the average variable cost curve
Eportion of the marginal cost curve that lies above the average variable cost curve.
Correct answer
A. portion of the marginal cost curve that lies above the average total cost curve
Explanation
The correct answer is portion of the marginal cost curve that lies above the average total cost curve.