The supply curve of a price-taker firm in the short run is the
a. firm's average variable cost curve.
b. portion of the firm's average total cost curve that lies above average variable cost curve.
c. portion of the firm's marginal cost curve that lies above average variable cost curve.
d. firm's marginal revenue curve.
C
Economics
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Nominal gross domestic product (GDP) is measured in terms of the _____
a. current-year prices b. base-year prices c. export of goods and services d. amount of taxes collected e. hours of employment
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Money is:
a. valuable because it is backed by gold. b. any items used in barter. c. an illiquid asset. d. none of these.
Economics