(c) Long-Run Response
P
MC1P1P
S1CD2D1LAC1P2P1
BAS2Long-runsupply0Q (firm)0Q1Q2Q3Q (market)汪艳
经济管理学院
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?Why the long-run supply curve might slope upward?
?Some resources used in production may be available only in limitedquantities.External Diseconomies汪艳
经济管理学院
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422013-7-23
An Increase in Demand in the Short Run and Long Run
(a) Initial Condition
P
MC1P1
P
LAC1P1
AShort-run supply D10Q (firm)0
Q1
Q (market)432013-7-23
汪艳
经济管理学院
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(b) Short-Run Response
PProfitP2P1MC1LAC1PS1P2BAP1D2D10Q (firm)0Q1
Q2Q (market)汪艳
经济管理学院
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(c) Long-Run Response
PMC2P3P1LAC2P2P3PS1S2CBALong-runsupplyD2D10Q (firm)0Q1Q2Q3Q (market)汪艳
经济管理学院
双语教学示范课程
452013-7-23