Refer to the accompanying figure to answer the following questions.

-A firm's willingness to supply its product in the short run is represented on a graph by the

Question

Refer to the accompanying figure to answer the following questions.
 
-A firm's willingness to supply its product in the short run is represented on a graph by the

Quizplus · Accepted Answer

In the short run, a firm's willingness to supply its product is represented by the part of the marginal cost (MC) curve that lies above the minimum average variable cost (AVC). This is because, in the short run, the firm will continue to produce as long as it can cover its variable costs, even if it cannot cover its total costs.

Refer to the Accompanying Figure to Answer the Following Questions