Use the following to answer questions 13 through 14: 13. The supply curve for th

Question

Use the following to answer questions 13 through 14:

    13.   The supply curve for this perfectly competitive firm is the segment of the:

            A) average total cost curve above point D.     C)   marginal cost curve above point C.

            B)   average variable cost curve above point C. D) marginal cost curve above point B.

    14.   A perfectly competitive firm would never continue producing in the short run if the market price was:

            A) lower than point C.                                    C)   between points C and D.

            B)   lower than point D.                                    D)   below point E.

Explanation / Answer

13) B -- average variable cost curve above point C

14) A - lower than pount C

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