Time management is very much important in IIT JAM. The eduncle test series for IIT JAM Mathematical Statistics helped me a lot in this portion. I am very thankful to the test series I bought from eduncle.
Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
Nidhi taparia Best Answer
The correct answer is (3). In the short run, MC above AVC depicts the supply curve of the firm. This is because at the quantity where AVC is at its lowest, depicts shut down point or the point below which firm will not operate. So at all point above it on the MC show the various quantities firm will supply at various prices.