A firm's short-run supply curve is the same as _____ if it produces the good
A. its marginal revenue curve
B. the upward-sloping part of its marginal cost curve
C. its marginal cost curve above minimum average variable cost
D. its marginal cost curve above minimum average total cost
C Figure 11.5 in the text illustrates that answer C is correct.
Economics
You might also like to view...
What term is defined as the change in the amount consumers will buy because the purchasing power of their money changes?
a. consumer taste b. consumer expectation c. income effect d. substitution effect
Economics
A firm will always maximize profit at the level of output where average total costs are minimized
a. True b. False Indicate whether the statement is true or false
Economics