Figure 8.8
-Refer to Figure 8.8.The firm's short-run supply curve is its

Question

Figure 8.8 
-Refer to Figure 8.8.The firm's short-run supply curve is its

Quizplus · Accepted Answer

In the short run, a firm's supply curve is represented by its marginal cost curve starting from the point where the marginal cost curve intersects the average variable cost curve, which is typically denoted as point b or above. This is because below this point, the firm would not cover its variable costs and would choose to shut down rather than produce.

Figure 8.8 -Refer to Figure 8.8.The Firm's Short-Run Supply Curve Is Its