In the short run, the individual competitive firm's supply curve is that segment of the:
A. average variable cost curve lying below the marginal cost curve.
B. marginal cost curve lying above the average variable cost curve.
C. marginal revenue curve lying below the demand curve.
D. marginal cost curve lying between the average total cost and average variable cost curves.
Answer: B
You might also like to view...
Why would a higher tax rate lower the government purchases multiplier? What does the tax rate have to do with the government purchases multiplier?
What will be an ideal response?
Which of the following constitutes a mixed strategy Nash equilibrium of the Odds and Evens game?
A) Play Even and Odd with 50% probability each. B) Play Even with 75% probability and Odd with 25% probability. C) Always play Even. D) This game has no mixed strategy Nash equilibrium.