Reference no: EM131901579

A firm's minimum average cost of $25 a backpack occurs when the firm produces 4 backpacks a day.

Draw the firm's supply curve.

Label the supply curve below $25 a backpack So

Label the supply curve above $25 a backpack S1

A firm's supply curve____.

A) is vertical at the shutdown point

B) is the same as the average variable cost curve at all points above the shutdown point.

C) is the same as the average total cost curve at all points above the shutdown point.

D) includes the marginal cost curve at all points above minimum average variable cost.