MCQOPTIONS
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| 1. |
In the long run, the competitive firm’s supply curve is the ? |
| A. | entire marginal cost curve |
| B. | upward-sloping portion of the average total cost curve |
| C. | portion of the marginal cost curve that lies above the average total cost curve |
| D. | upward-sloping portion of the average variable cost curve |
| E. | portion of the marginal cost curve that lies above the average variable cost curve. |
| Answer» D. upward-sloping portion of the average variable cost curve | |