Refer to the information provided in Figure 9.3 below to answer the question(s) that follow. Figure 9.3
-Refer to Figure 9.3. This firm's ________ is the firm's marginal cost curve above point B.
A) average fixed cost curve
B) demand curve
C) short-run supply curve
D) marginal revenue curve

Question

Refer to the information provided in Figure 9.3 below to answer the question(s) that follow.  Figure 9.3
-Refer to Figure 9.3. This firm's ________ is the firm's marginal cost curve above point B.
A) average fixed cost curve 
B) demand curve 
C) short-run supply curve 
D) marginal revenue curve

Quizplus · Accepted Answer

In microeconomic theory, a firm's short-run supply curve is represented by its marginal cost curve above the shutdown point, which is typically where the marginal cost curve intersects the average variable cost curve (point B in many diagrams). This is because the firm will not supply any output at prices below this point, as it would not cover its variable costs.

Refer to the Information Provided in Figure 9