In a perfectly competitive market, a firm's short-run supply curve is
A) its total cost curve.
B) its marginal cost curve equal to or above the point of intersection with its average variable cost curve.
C) its average variable cost curve below the point of intersection with its total cost curve.
D) its total cost curve between the shutdown point and the break-even point.
Answer: B
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The command of World War II (1941–45)
(a) was more structured than that of World War I (1914–18) (WWI). (b) experienced the same unconstitutionality problems experienced during WWI. (c) was distinct from WWI in most ways. (d) did not involve rationing of goods and services, given the high unemployment of the period.
World War II (1941–45) bond sales
(a) were successful and purchased primarily by banks, not private individuals. (b) were successful and purchased primarily by private individuals, not banks. (c) were successful but eventually led to inflation when bondholders decided to cash them in or sell them to the Fed. (d) were not successful.