Multiple Choice
The diagram concerns supply adjustments to an increase in demand (D₁ to D₂) in the immediate market period, the short run, and the long run. Supply curves S₁, S₂, and S₃ apply to the
A) immediate market period, long run, and short run, respectively.
B) immediate market period, short run, and long run, respectively.
C) long run, short run, and immediate market period, respectively.
D) short run, long run, and immediate market period, respectively.
Correct Answer:
Verified
Correct Answer:
Verified
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