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?

A. Upward-sloping portion of the average total cost curve
B. upward-sloping portion of the average variable cost curve
C. portion of the marginal cost curve that lies above the average total cost curve.
D. entire marginal cost curve.
E. portion of the marginal-cost curve that lies above the average variable cost curve

Correct Answer: portion of the marginal-cost curve that lies above the average variable cost curve ✔

Last Updated: June 11, 2019