Refer to Figure 6-12. 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) Either SA or SB could represent supply in the long run; in the short run the supply curve must be a horizontal line.
B) SA represents supply in the short run and SB represents supply in the long run.
C) Either SA or SB could represent supply in the short run; in the long run the supply curve must be a vertical line.
D) SB represents supply in the short run and SA represents supply in the long run.
B
Economics
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