Figure 10-5

-In Figure 10-5, points which lie on the firm's short-run supply curve are

Question

Figure 10-5
​ 
-In Figure 10-5, points which lie on the firm's short-run supply curve are

Quizplus · Accepted Answer

Points C, D, and H lie on the firm's short-run supply curve because at those points, the marginal cost of production equals or exceeds the market price of the product, indicating that the firm is willing to supply that quantity at that price. Points A and E are below the short-run supply curve, indicating that the firm would not be willing to supply those quantities at the given market price. Points F and G are above the short-run supply curve, indicating that the firm would be willing to supply higher quantities at those higher prices, but they are not part of the firm's short-run supply curve.

Figure 10-5 ​

Figure 10-5