If we sum all the firms' MC curves above their ATC curves, we would derive the perfectly competitive
A) long run cost curve
B) short run cost curve
C) horizontal cost curves
D) short-run market supply curve
E) long-run market supply curve

Question

Quizplus · Accepted Answer

The long-run market supply curve is the horizontal summation of all firms' marginal cost curves above their average total cost curves.

If We Sum All the Firms' MC Curves Above Their