FIGURE 4- 3 -Refer to Figure 4- 3, Which Shows a Demand Shift

Multiple Choice

FIGURE 4- 3
-Refer to Figure 4- 3, which shows a demand shift and the short- run and long- run supply curves for some product. In the new long- run equilibrium at EL, producers' revenue

A) could be higher or lower than at ES, depending on the price elasticity of demand.
B) could be higher or lower than at E0, depending on the price elasticity of demand.
C) is unambiguously higher than at ES.
D) is unambiguously lower than at ES.
E) is unambiguously lower than at E0.