Given below are the input supply curves for the housing and pencil industries,respectively.Graphically illustrate the long-run supply curve for the two industries and comment on the nature of the housing and pencil industries. 
Definitions:
Externality Problems
Situations where the actions of individuals or businesses have effects on third parties that are not accounted for in the market price.
Cost-Benefit Analysis
A systematic approach to estimating the strengths and weaknesses of alternatives used to determine the best action to achieve benefits while minimizing costs.
Textbook Selection Committee
A group of individuals, often educators, who evaluate and recommend textbooks for adoption in educational settings.
Analytical Level
The degree or scale of examination or scrutiny applied when reviewing a concept, scenario, or data set.
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