Which of the Following Best Describes the Short-Run Supply Curve

question 240

Multiple Choice

Which of the following best describes the short-run supply curve for an individual perfectly competitive firm?

• A) It is the firm's marginal cost curve.
• B) It is the upward-sloping part of the firm's marginal cost curve.
• C) It is the vertical axis at prices less than minimum average variable cost and is the firm's marginal cost curve at prices above minimum average variable cost.
• D) It is the vertical axis at prices less than minimum average total cost and is the firm's marginal cost curve at prices above minimum average total cost.

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