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California State University, Long Beach *

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100

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Economics

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Feb 20, 2024

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10. Price elasticity of supply in the short run and long run The following graph shows the short-run supply curve for pistachios. Place the orange line (square symbol) on the following graph to show the most likely long-run supply curve for pistachios. (Note: Place the points of the line either on Tand I or on T and X.) @ 48 T P X | 40 + ‘ ‘ Long-Run Supply 32 + Short-Run Supply 24 + PRICE (Dollars per pound) 0 2 4 6 8 10 12 QUANTITY (Thousands of pounds of pistachios)
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