Refer to the graph shown depicting a perfectly competitive firm. If average variable cost is $3 at quantity 450, points A through E represent the:
A) firm's total cost curve.
B) firm's total revenue curve.
C) demand for the firm's product.
D) firm's supply curve.

Question

Refer to the graph shown depicting a perfectly competitive firm. If average variable cost is $3 at quantity 450, points A through E represent the: 
A) firm's total cost curve. 
B) firm's total revenue curve. 
C) demand for the firm's product. 
D) firm's supply curve.

Quizplus · Accepted Answer

The Answer of Refer to the graph shown depicting a perfectly competitive firm. If average variable cost is $3 at quantity 450, points A through E represent the: 
A) firm's total cost curve. 
B) firm's total revenue curve. 
C) demand for the firm's product. 
D) firm's supply curve.

Refer to the Graph Shown Depicting a Perfectly Competitive Firm