10. Price elasticity of supply in the short run and longrun
The following graph shows the long-run supply curve forapricots.
Place the orange line (square symbol) on the following graph toshow the most likely short-run supply curve for apricots. (Note:Place the points of the line either on H and Y or on H and P.)
10 Price Elasticity Of Supply In The Short Run And Long Run The Following Graph Shows The Long Run Supply Curve For Apr 1 (13.28 KiB) Viewed 8 times
PRICE (Dollars per pound) 12 10 00 CO 2 0 0 H 4 P L Long-Run Supply 2 6 8 10 QUANTITY (Thousands of pounds of apricots) 12 0 Short-Run Supply ?
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!