Question: I am having difficulty approaching the problems after the graph- thank you Draw a new graph that shows the Marginal Cost (MC) curve, Average Total

I am having difficulty approaching the problems after the graph- thank you

I am having difficulty approaching the problems after the graph- thank you

Draw a new graph that shows the Marginal Cost (MC) curve, Average Total Cost (ATC) and Average Variable Cost (AVC). Label the points (in terms of Q and cost per unit) where the MC curve intersects the ATC and AVC curves. Show in the same graph how much the rm would choose to produce in the shortrun when the price is $70. Show graphically the producer surplus and prot of the rm. Show in a new graph how much the rm would choose to produce in the shortrun when the price is $50. Show graphically the producer surplus and prot of the rm. How does your response to (b) and (c) change when you consider the long-run instead

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