Homework (Ch 05) - 10. Price elasticity of supply in the short run and long run

The following graph shows the short-run supply curve for pistachios. Place the orange line (square symbol) on the following graph to show the most likely long-run supply curve for pistachios. (Note: Place the points of the line either on N and G or on N and Z.) 48 Long-Run Supply 40 32 24 PRICE (Dollars per pound) N Short-Run Supply 16 0 10 12 2 QUANTITY (Thousands of pounds of pistachios)