A perfectly competitive firm's short-run supply curve is its _____ cost curve above its _____ cost curve.

Name: A perfectly competitive firm's short-run supply curve is its _____ cost curve above its _____ cost curve.
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Question

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In a perfectly competitive market, a firm's short-run supply curve is the portion of its marginal cost curve that lies above the average variable cost curve. This is because the firm will only produce if it can cover its variable costs in the short run.

A Perfectly Competitive Firm's Short-Run Supply Curve Is Its _____