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Use the Following to Answer Question(s)

Question 144

Multiple Choice

Use the following to answer question(s) :
Exhibit: Supply: Short and Long Run
Use the following to answer question(s) :  Exhibit: Supply: Short and Long Run    -(Exhibit: Supply: Short and Long Run)  S<sub>3</sub> would be the _______-run supply curve if _______. A)  long; expanded production leaves production costs unchanged B)  short; expanded production changes production costs C)  long; there is no entry into or exit from the industry D)  medium; costs are changed if there is easy entry
-(Exhibit: Supply: Short and Long Run) S3 would be the _______-run supply curve if _______.


A) long; expanded production leaves production costs unchanged
B) short; expanded production changes production costs
C) long; there is no entry into or exit from the industry
D) medium; costs are changed if there is easy entry

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