Economics (M.Phil./Ph.D.) 2018 Panjab University Entrance Exam With Answers

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45.

In the short run, the supply curve of a competitive firm is –

A: The rising portion of the Marginal Cost Curve lying above the minimum point of the Average Variable Cost Curve
B: The falling portion of the Marginal Cost Curve lying before the minimum point of the Average Variable Cost Curve
C: The rising portion of the Marginal Cost Curve after the highest point of Total Cost Curve
D: None of the above

The answer is: A

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