Question: Interior Left: Key Graphs & Formulas (25 points) Draw and correctly label each graph. For this unit, each graph should take up 14 of this

Interior Left: Key Graphs & Formulas (25 points) Draw and correctly label each graph. For this unit, each graph should take up 14 of this side of the folder. In the space beside each graph, explain in words what the graph illustrates. Also include important tips for analyzing the graph. a. Production Function- Draw TP and MP. Label 3 stages of returns. b. Long Run Production Costs- Draw long-run ATC and label economies of scale. c. Perfect Competition- Draw a perfectly competitive market and firm in long run equilibrium. Make sure to label price, quantity, supply, demand, Pm, Qm, MC, ATC, AVC, AFC, MR. DARP, Pf & Of d. Perfect Competition- Use graphs to explain how a perfectly competitive firm and market will return to equilibrium in the long run. Start with the firm operating at a loss. Then, show the market response

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