Place the orange line (square symbol) on the following graph to show the most likely short-run supply curve for pears. (Note: Place the points of the line either on J and A or on J and R.) PRICE (Dollars per pound) 48 40 32 24 16 0 0 2 4 6 J □R 8 10 QUANTITY (Thousands of pounds of pears) A Long-Run Supply 12 Short-Run Supply (?)

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10. Price elasticity of supply in the short run and long run
The following graph shows the long-run supply curve for pears.
Place the orange line (square symbol) on the following graph to show the most likely short-run supply curve for pears. (Note: Place the points of the
line either on J and A or on J and R.)
PRICE (Dollars per pound)
48
40
32
16
0
2
4
6
J
D
R
8
10
QUANTITY (Thousands of pounds of pears)
A
Long-Run Supply
12
-0-
Short-Run Supply
(?)
Transcribed Image Text:10. Price elasticity of supply in the short run and long run The following graph shows the long-run supply curve for pears. Place the orange line (square symbol) on the following graph to show the most likely short-run supply curve for pears. (Note: Place the points of the line either on J and A or on J and R.) PRICE (Dollars per pound) 48 40 32 16 0 2 4 6 J D R 8 10 QUANTITY (Thousands of pounds of pears) A Long-Run Supply 12 -0- Short-Run Supply (?)
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