Figure 2.5.4
-Refer to Figure 2.5.4 above. The figure depicts the supply curves in the short run (SR) and long run (LR) for two types of copper: primary and secondary. Which panel best resembles the supply curves for primary copper?
A) A
B) B
C) Both. There are no differences.
D) Neither. The supply curves in that industry are downward sloping.

Question

Figure 2.5.4
-Refer to Figure 2.5.4 above. The figure depicts the supply curves in the short run (SR) and long run (LR) for two types of copper: primary and secondary. Which panel best resembles the supply curves for primary copper?
A) A 
B) B 
C) Both. There are no differences. 
D) Neither. The supply curves in that industry are downward sloping.

Quizplus · Accepted Answer

Panel B is the best choice as it shows a vertical short-run supply curve and upward-sloping long-run supply curve, which is typical for primary copper. Panel A shows a horizontal short-run supply curve and a vertical long-run supply curve, which is typical for secondary copper.

Figure 2.5.4 -Refer to Figure 2.5.4 Above. the Figure Depicts the Supply