Consider the Following Short-Run Cost Curves for a Profit-Maximizing Firm

question 2

Multiple Choice

Consider the following short-run cost curves for a profit-maximizing firm in a perfectly competitive industry. FIGURE 9-2
-Refer to Figure 9-2.The short-run supply curve for the industry in which this firm operates is

• A)the MC curve at or above a price of $1.50.
• B)the AVC curve at or above a price of $1.50.
• C)the entire MC curve.
• D)the MC curve at or above a price of $3.
• E)not determinable from the information provided.

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