1D. The shortrun supply curve of a perfectly competive firm a. corresponds to the segment of its marginal cost curve that lies above the average variable cost curve b. cannot lie below the average total cost curve c. is downwardsloping d. is higher than the marginal cost curve 11. If Amazoncom is operating in a competitive market, in the long run it will a. earn zero economic prots b. earn positive economic prots c. earn negative economic prots d. it will go out of business 12. If Microsoft continues to earn economic profits in the long run, one should conclude that a. it is the best company,r ever created h. it is producing at the minimum point on the longrun average total cost curve c. it is not producing at an output where MC = MR