(4 pts) Firm Supply Curves: Short run and Long run SB - - - ATC - - - AVC Qs, Q output Qs, Q output Use the two Graphs above for questions 12 & 13: 12. Which of the two Graphs, SA or SB, shows the LONG run Supply Curve? 13. Which of the Graphs, SA or SB, shows the SHORT run Supply Curve? 14. In the long run, if LOSSES are happening - what will firms decide to do? a) enter or b) exit the market: 15. In the long run, if PROFITS are happening - what will firms decide to do? a) enter or b) exit the market