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Question #47472

In the long run, the competitive firm’s supply curve is the ?

Options:

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) E. portion of the marginal cost curve that lies above the average variable cost curve.

Answer: In the long run, the competitive firm’s supply curve is the portion of the marginal cost curve that lies above the average total cost curve.

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