Suppose a perfectly competitive firm's total cost of production (TC) is:

T(C)= q^3 -4 q^2 +60q +15

and the firm's marginal cost of production (MC) is
MC(q)= 3q^2- 8q +60.

The firm's short-run supply curve is given by :

P = 3q^2 - 8q + 60 for prices above $56

Explanation:

The firm's short run supply curve is the portion of its marginal cost curve. The firm's marginal cost of production is the change in its total cost of production from producing one additional unit. The firm's short run supply curve lies above its average variable cost curve. If the price in market rises the firm will sell more products. The short run supply curve is upward sloping because quantity supplied increases when the prices are increased.

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