A perfectly competitive firm's marginal cost curve above the average variable cost curve is its: Select...

A perfectly competitive firm's marginal cost curve above the average variable cost curve is its:

Select one:

a. total revenue curve.

b. short-run supply curve.

c. input demand curve.

d. marginal revenue curve.

Expert Solution

A perfectly competitive firm's marginal cost curve above the average variable cost curve is its short-run supply curve. This is explained below

Thus (b) is correct option.

Rahul Sunny answered 2 years ago

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