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.

Question

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.

Quizplus · Accepted Answer

The Answer of  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.

The Diagram Concerns Supply Adjustments to an Increase in Demand