CENGAGE | MINDTAP Q Search this course ? Gurkirat Aplia Homework: Perfect Competition X Back to Assignment A Attempts 0.5 Keep the Highest 0.5 / 3 A-Z 9. The long-run supply curve in different cost industries The following graph shows the market for milk. Initially, the market is in a long-run equilibrium. O Suppose that a change in tastes resulted in a rightward shift in demand. On the following graph, shift the demand or supply curve to reflect this change in tastes. Then use the grey point (star symbol) to indicate the new short-run equilibrium. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. Your Answer Correct Answer 10 O X Short-Run Supply Demand Co X Short-Run Supply :(Dollars per litre) XCENGAGE | MINDTAP Q Search this course ? Gurkirat Aplia Homework: Perfect Competition X 9. The long-run supply curve in different cost industries A The following graph shows the market for orange juice. Initially, the market is in a long-run equilibrium. Suppose that a change in tastes resulted in a leftward shift in demand. A-Z On the following graph, shift the demand or supply curve to reflect this change in tastes. Then use the grey point (star symbol) to indicate the new short-run equilibrium. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. 10 O Short-Run Supply Demand Co Short-Run Supply PRICE (Dollars per litre) A Short-Run Equilibrium Demand 2 Long-Run Equilibrium