The following graph shows the short-run supply curve for apricots. Place the orange line (square symbol) on the following graph to show the most likely long-run supply curve for apricots. (Note: Place th line either on H and K or on H and N.) PRICE (Dollars per pound) 12 10. O D Short-Run Supply 2 10 QUANTITY (Thousands of pounds of apricots) 12 Long-Run Supply ?

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter9: Price Takers And The Competitive Process
Section: Chapter Questions
Problem 8CQ
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The following graph shows the short-run supply curve for apricots.
Place the orange line (square symbol) on the following graph to show the most likely long-run supply curve for apricots. (Note: Place the points of the
line either on H and K or on H and N.)
PRICE (Dollars per pound)
12
10
0
D
Short-Run Supply
2
10
QUANTITY (Thousands of pounds of apricots)
12
Long-Run Supply
?
Transcribed Image Text:The following graph shows the short-run supply curve for apricots. Place the orange line (square symbol) on the following graph to show the most likely long-run supply curve for apricots. (Note: Place the points of the line either on H and K or on H and N.) PRICE (Dollars per pound) 12 10 0 D Short-Run Supply 2 10 QUANTITY (Thousands of pounds of apricots) 12 Long-Run Supply ?
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