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djnextlevel djnextlevel
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A year ago

The three diagrams below each show a supply curve for oil tankers over a relatively short period of time.

Short description: Three graphs plot Q against P. Long description: In each graph, the horizontal axis represents Q and the vertical axis represents P. The first graph shows a horizontal line, S which is at a mid-price range. The second graph shows an increasing line, S. It begins at a point near the horizontal axis, next to the origin, and ends at a point near the top-right of the graph. The third graph shows an increasing curve, S. The curve begins at a point, a little above the origin, and ends at a point near the top-right of the graph.

FIGURE 13-3

Refer to Figure 13-3. Consider oil tankers as a factor of production (for example, for the production of gasoline). Which diagram shows the most mobility of this factor of production?



▸ diagram 1

▸ diagram 2

▸ diagram 3

▸ none of the diagrams

▸ each diagram shows mobility
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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livewelldreambilivewelldreambi
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A year ago
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djnextlevel Author
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A year ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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