3678EconomicsMedium
In the short run, the competitive firm’s supply curve is the portion of the marginal cost curve that lies above the average variable cost curve?
Aentire marginal cost curve.
Bupward-sloping portion of the average variable cost curve
CUpward-sloping portion of the average total cost curve
Dportion of the marginal-cost curve that lies above the average variable cost curve
Eportion of the marginal cost curve that lies above the average total cost curve.
Correct answer
D. portion of the marginal-cost curve that lies above the average variable cost curve
Explanation
The correct answer is portion of the marginal-cost curve that lies above the average variable cost curve.