Use the following to answer question:
Figure 8.12
-(Figure 8.12) The perfectly competitive firm's short-run supply curve is represented by points:

Question

Use the following to answer question:
Figure 8.12 
-(Figure 8.12) The perfectly competitive firm's short-run supply curve is represented by points:

Quizplus · Accepted Answer

In perfectly competitive market, the supply curve of a firm is its marginal cost curve above the minimum average variable cost. In the given figure, points B, C, and D lies on the MC curve above the minimum AVC. Hence, the short-run supply curve of the firm is represented by points B, C, and D.

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