The competitive firm's supply curve is equal to
A. its marginal cost curve.
B. the portion of its marginal cost curve that lies above AC.
C. the portion of its marginal cost curve that lies above AVC.
D. the portion of its marginal cost curve that lies above AFC.
Answer:C
The competitive firm's supply curve is equal to
A. its marginal cost curve. B. the portion of its marginal cost curve that lies above AC. C. the portion of its marginal cost curve that lies above AVC. D. the portion of its marginal cost curve that lies above AFC.