Figure 6-12 -Refer to Figure 6-12. Suppose the Diagram Shows the Supply

Multiple Choice

Figure 6-12
-Refer to Figure 6-12. Suppose the diagram shows the supply curves for a product in the short run and in the long run. Which supply curve represents supply in the short run and which curve represents supply in the long run?

A) S_B represents supply in the short run and S_A represents supply in the long run.
B) Either S_A or S_B could represent supply in the short run; in the long run the supply curve must be a vertical line.
C) Either S_A or S_B could represent supply in the long run; in the short run the supply curve must be a horizontal line.
D) S_A represents supply in the short run and S_B represents supply in the long run.