Announcements Modules Marks D Question 5 1 pts Quizzes Assignments Which of the following statements about a competitive firm's supply Ed Discussion curve is true? Zoom O The short and long run supply curves are the MC curve above ATC. Unit outline (CC) The short and long run supply curves are the SMC curve above AVC. Unit outline (RE) O The short run supply curve is the LMC curve above the minimum of AVC. O The long run supply curve is perfectly elastic at the minimum of long run average cost. None of the other answers is correct. dean W hp S O