ECSENOMICS AS Is Relatively Flat in the Short Run s but Turns Vertical in the Long Run T232 Figure 31-3 (a)Short Run (b) Long run AS Real outp eal output McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. AS Is Relatively Flat in the Short Run but Turns Vertical in the Long Run T-232 Figure 31-3