In the Price Range Above Minimum Average Variable Cost,a Perfectly

question 77

Multiple Choice

In the price range above minimum average variable cost,a perfectly competitive firm's supply curve is

• A)horizontal at the market price.
• B)vertical at zero output.
• C)the same as its marginal cost curve.
• D)the same as its average variable cost curve.
• E)the same as its total variable cost curve.

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Definitions:

Overhead Applied

The amount of overhead cost assigned to a particular cost object, using a predetermined rate, regardless of the actual overhead incurred.