Describe the supply curve of a perfectly competitive firm

The supply curve of a perfectly competitive firm is an upward sloping curve that is coincidental to the portion of the marginal cost curve that lies above the average variable cost curve. The marginal cost curve illustrates the additional cost of producing one more unit of a good or service. The supply curve, on the other hand, reflects the units of goods or services a firm is willing and able to supply in the market at different prices. A firm gets incentivized to supply an additional unit only when there is an increase in the price. In a perfectly competitive market, a firm produces the quantity of output at which the marginal cost of production becomes equal to the price of the good/service. The firm shuts down if the price goes below the average variable cost. If the price of the product covers the marginal cost, the firm becomes willing to supply its product in the market. Consequently, at every price that covers additional marginal costs of production, the firm supplies an additional quantity. Therefore, the upward sloping portion of the marginal cost curve becomes coincidental to the supply curve of a perfectly competitive firm.