Refer to the Accompanying Figure to Answer the Following Questions

question 62

Multiple Choice

Refer to the accompanying figure to answer the following questions.

-A firm's willingness to supply its product in the long run is represented on a graph by the

• A) market supply curve.
• B) entire marginal cost (M
• C)curve.
• C) marginal revenue (M
• R)curve.
• D) part of the marginal cost (M
• C)curve above minimum average total cost (AT
• C).
• E) part of the marginal cost (M
• C)curve above minimum average variable cost (AV

---

Definitions:

Assign

To transfer property by sale, mortgage, pledge, or otherwise.

Floating Lien

A provision, placed by the creditor, in a security agreement that a security interest of the creditor also applies to goods the debtor acquires at a later time.

Inventory

Goods held for sale or lease, or raw materials used or consumed in a business.