The short-run supply curve for a purely competitive industry can be found by:

A) multiplying the AVC curve of the representative firm by the number of firms in the industry.
B) adding horizontally the AVC curves of all firms.
C) summing horizontally the segments of the MC curves lying above the AVC curve for all firms.
D) adding horizontally the immediate market period supply curves of each firm.

Supply Curve

An illustrated diagram depicting the connection between an item's price and the volume of the item that providers are ready to sell.

Purely Competitive Industry

A market structure characterized by many small firms producing identical products where no single firm can influence the market price.

AVC Curve

A graph that illustrates the average variable costs associated with producing different quantities of output, typically showing a U-shaped curve due to economies and diseconomies of scale.