Question: The figure to the right shows a perfectly competitive firm's marginal cost curve (MC), average fixed cost curve (AFC), average variable cost curve (AVC),

The figure to the right shows a perfectly competitive firms marginal cost curve (MC), average fixed cost curve (AFC), averag

The figure to the right shows a perfectly competitive firm's marginal cost curve (MC), average fixed cost curve (AFC), average variable cost curve (AVC), and average total cost curve (ATC). Illustrate the firm's short-run supply curve. Assume all fixed costs are sunk in the short run. Using the line drawing tool, draw the firm's short-run supply curve in the figure to the right. Label this line 'S'. Carefully follow the instructions above, and only draw the required object. (...) Price (dollars per unit of output) 30- 284 26- 24- 22 20- 18+ 16- 14- 12- 10- 8- 6- 5 5 4- 2- 0- 0 ++++ 5 6 7 Output 8 9 MC ATC AVC AFC 10 11

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