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AP® Microeconomics

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Moderate

The Perfectly Competitive Firm's supply curve

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Which of the following is true about a perfectly competitive firm’s supply curve?

A

It is the portion of the average variable cost curve lying below the marginal cost curve.

B

It is the portion of the marginal cost curve lying above the average variable cost curve.

C

It is the portion of the average total cost curve lying below the demand curve.

D

It is the portion of the marginal cost curve lying between the average total cost and average variable cost curves.

E

It is the portion of the average total cost curve lying below the marginal cost curve.