Figure 4.9 -Refer to Figure 4.9.Suppose the Diagram Shows the Supply Curves

question 198

Multiple Choice

Figure 4.9
-Refer to Figure 4.9.Suppose the diagram shows the supply curves for a product in the short run and in the long run.Which supply curve represents supply in the short run and which curve represents supply in the long run?

• A)S_B represents supply in the short run, and S_A represents supply in the long run.
• B)Either S_A or S_B could represent supply in the short run; in the long run, the supply curve must be a vertical line.
• C)Either S_A or S_B could represent supply in the long run; in the short run, the supply curve must be a horizontal line.
• D)S_A represents supply in the short run, and S_B represents supply in the long run.

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