Questions: (Figure: Interpreting Short-Run Supply Curves) Based on the graph, which of the curves would MOST likely depict a supply curve in the short run? curve a curve b curve c curve d

Solution Steps

In the short run, a supply curve typically shows the relationship between the price of a good and the quantity supplied, holding other factors constant. It is usually upward sloping, indicating that as the price increases, the quantity supplied also increases.

Examine the curves labeled a, b, c, and d in the graph:

• Curve a: Upward sloping
• Curve b: Upward sloping
• Curve c: Vertical
• Curve d: Downward sloping

Based on the characteristics of short-run supply curves, the most likely candidates are the upward sloping curves (a and b). However, curve a is steeper, which is more typical of a short-run supply curve due to limited flexibility in production capacity.

Final Answer