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taniyah cherry
on Oct 27, 2024

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The short-run supply curve for a perfectly competitive firm is its:

A) demand curve above its marginal revenue curve.
B) marginal revenue curve to the right of its marginal cost curve.
C) marginal cost curve above its average variable cost curve.
D) average total cost curve below its marginal cost curve.

Short-run Supply Curve

Represents the relationship between the price of a good and the quantity supplied over a short period, during which at least one input is fixed.

Marginal Cost Curve

A graphical representation of the change in total cost that arises when the quantity produced changes by one unit.

Average Variable Cost Curve

A graph that shows how the average variable cost of production changes as the quantity of output changes.

  • Understand the role of marginal cost in determining a perfectly competitive firm's short-run supply curve.
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Carolina HussingNov 01, 2024
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