-In Figure 29.1 the area that represents the total variable cost to producers under perfect competition is A)OP_PCCQ_PC B)OP_monopolyBQ_monopoly C)OFCQ_PC D)OFEQ_monopoly

Question

Quizplus · Accepted Answer

Total variable cost to producers under perfect competition is represented by the area under the supply curve up to the quantity produced. This area is typically bounded by the origin (O), the price level (P), the quantity produced (Q), and the supply curve (S), making option C the correct representation.