 वर्म स्प्लाय कर्व, जब हम बात करते हैं वर्म स्प्लाय कर्व की, तो in that determination of firm's supply curve, वर्म स्प्लाय कर्व रोल पले करेगी आपकी मरजनल कोस्ट कर्व और अवरिज वेरिबल कोस्ट कर्व. In fact, in the short run, the part of the marginal cost curve that lies above to average variable cost curve, it denotes the supply of the firm's output against different prices. To understand this, if we suppose to replicate this concept with reference to the output that is produced by a particular farmer. Here we have three curves drawn in this diagram. We have taken the horizontal axis for the agricultural output, we are showing the cost and revenue on the vertical axis. And your marginal cost, the average total cost curve and the average variable cost curve are intersecting at its minimum point. And we had also said that the optimal level of output, which level of output will be, this is the level of output where marginal revenue is equal to marginal cost. Now here I have drawn a PM line. This is the price of agricultural output that prevails in the market. What level of output will be produced by a farmer? He will produce a level of output is equal to QM. And what is QM level of output? This is the optimal level of output. This is the level of output where farmer is minimizing its cost to produce the level of output. This is the level of output where farmer is maximizing his profit. And where this happened, this is observed at a point where marginal cost is equal to marginal revenue. And here this PM line not only denotes the price that prevails in the market, it also denotes the average revenue and marginal revenue that farmer is getting by selling output in the market. Now if we assume here that there is a decrease in market price and because of the decrease in market price PM moves to PBE and this is the black color horizontal line. This is the price after a decrease in market price. This is the price that farmer is getting after a decrease in price in the market. Again your farmer what level of output he will produce he will produce a level of output where marginal cost is equal to marginal revenue. And this PBE it also denotes the average revenue and marginal revenue of the farmer when there is a decrease in price of price of agricultural output in the market. And here farmer will produce a level of output denoted by QBE. But what we call this level of output this is the break even level of output. This is the level of output where farmer is covering its average total cost. At this point farmer is covering all of its average total cost. Now if we assume that there is further decrease in price of agricultural output in the market because of that decrease in price of agricultural output in the market. Now the price which farmer is getting for its output we denote it with PSE this yellow color line horizontal yellow color line this is the price that prevails in the market and farmer can sell its output at this particular price. Again which level of output he will produce he will produce a level of output where marginal cost is equal to this new price and that level of output I have QSE but this level of output this is the shutdown level of output. Here if further decrease in price then what will happen farmer will close down its close down the production of that particular agricultural output. Here he is getting lost but the situation is that he is bearing loss but that loss is equal to the loss that he has to bear because of the fixed cost. But if the price further decrease and by operating his average variable cost is greater than the price that prevails in the market then for farmer he should produce output in the market. For farmer farmer will produce a level of output as long as price in the market is greater than average variable cost. If price will decrease then what will happen farmer will leave the production of that particular agricultural output and what is all this that this part of the marginal cost which I am denoting from the green color line it denotes the supply of agricultural output by a particular farmer the portion of the marginal cost curve that lies above to average variable cost curve it is basically the supply of agricultural output by a particular farmer but here our assumption is that the price will be greater than the average variable cost now this association is depicting between price and level of output that is produced by farmer and the part of the marginal cost curve that lies above to average variable cost curve denotes the supply of agricultural output by by individual farmers by farmers at an individual level now here when you will talk in short-run what will a rational farmer do he will produce agricultural output if the price is greater or equal to average variable cost curve but if price of agricultural output less than average variable cost will be then the farmer will not produce any output now if I summarize from this discussion then one thing is clear when you will talk about farmer supply curve it is the part of the marginal cost curve that lies above to its average variable cost curve farmer will carry out the production of agricultural output and will shut down level of output and shut down level of output which is this is the level of output where price is equal to average variable cost or our price less than average variable cost then farmer will shut down his business he will not produce any agricultural output