FIGURE 4-3 -Refer to Figure 4-3,which Shows a Demand Shift and the and the Short-Run

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 E_L,producers' revenue

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