1.Long-Run Supply Curve of Lamps. Suppose each lamp manufacturer produces 10 lamps per hour. Complete the following table. Then use the data in the table to draw the long-run supply curve for lamps....

1.Long-Run Supply Curve of Lamps. Suppose each lamp manufacturer produces 10 lamps per hour. Complete the following table. Then use the data in the table to draw the long-run supply curve for lamps.

2. How Steep a Supply Curve? Consider two cities, one on a small island, and a second on a large plain.

a. Draw a long-run supply curve for housing for each city, and explain any differences between the two supply curves.

b. If demand for housing increases by the same amount in each city, which city will experience a larger increase in price?