What is the correct interpretation of the perfectly competitive firm's supply curve?

Question

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In a perfectly competitive market, the firm's supply curve is derived from its marginal cost curve. However, the firm will only produce in the short-run if the price is above its average variable cost. Therefore, the supply curve will be equal to the portion of the marginal cost curve that lies above the average variable cost curve. This is because if the price is below the average variable cost, the firm will shut down and won't produce anything in the short-run.

What Is the Correct Interpretation of the Perfectly Competitive Firm's