The competitive firm's short-run supply curve is that portion of the
a. average variable cost curve that lies above marginal cost.
b. average total cost curve that lies above marginal cost.
c. marginal cost curve that lies above average variable cost.
d. marginal cost curve that lies above average total cost.
c
Economics
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The Chinese protected its automobile industry through restrictive tariffs and quotas. Which of the following BEST describes this practice?
a. antidumping duties b. infant industry protection c. voluntary export restraints d. price discrimination
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Why do we say that the demand for labor is a derived demand?
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