Why Is a Competitive Firm's Marginal-Cost Curve Regarded as Its

question 64

Multiple Choice

Why is a competitive firm's marginal-cost curve regarded as its supply curve

• A)The position of the marginal-cost curve determines the price for which the firm should sell its product.
• B)Among the various cost curves, the marginal-cost curve is the only one that slopes upward.
• C)The marginal cost curve determines the quantity of output the firm is willing to supply at any price.
• D)The firm is aware that marginal revenue must exceed marginal cost in order for profit to be maximized.

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Article 2(A)

A section of the Uniform Commercial Code that specifically deals with the leasing of goods.