A firm's supply curve is its A. average total cost curve above its minimum average total cost B. marginal cost curve above minimum average total cost C. average variable cost curve above its minimum average variable D. marginal cost curve above minimum average variable cost What is the lowest price at which a firm produces an output? Explain why. Draw the marginal revenue curve for a firm in perfect competition that produces rubber boots when the market price is $10 per pair. Label it. Draw the marginal cost curve. Label it. Draw the average variable cost curve if the price occurs at minimum average variable cost. Label it. Draw a point to indicate the shutdown point