(I) a Firm's Short-Run Supply Curve Is Equal to Its

question 40

Multiple Choice

(I) A firm's short-run supply curve is equal to its average variable cost curve above marginal revenue. (II) The short-run supply curve for a price-taker market is the horizontal sum of the supply curves of all firms in the industry.

• A) I is true; II is false.
• B) I is false; II is true.
• C) Both I and II are true.
• D) Both I and II are false.

---

Definitions:

Stability Of Behavior

Refers to the consistency of individual behaviors over time and across situations, emphasizing the enduring nature of personality and actions.

Practical

Pertaining to or concerned with the actual doing or use of something rather than with theory and ideas.

Longitudinal

A type of research study in which data is gathered from the same subjects repeatedly over a period of time.

Experimental

Pertaining to a methodological approach in research that involves manipulation of variables to determine cause-and-effect relationships.