Question: Please draw the graphs. I need visuals. Thank you I appreciate it 3. Draw the long run average cost curves for each of the following:

Please draw the graphs. I need visuals. Thank you I appreciate it

Please draw the graphs. I need visuals. Thank you I appreciate it

3. Draw the long run average cost curves for each of the following: a) A firm with constant returns to scale b) A firm with increasing returns to scale (a.k.a. "economies of scale"). c) A firm with increasing returns to scale at lower levels of production; and constant returns to scale at higher levels of production. 4. A firm is currently producing and selling 100 brushes for $2 each. It has average fixed costs of 50 cents and average variable costs of 75 cents at this production level. a) Calculate the firm's total revenue, total fixed cost, total variable cost, and total profits at this production level. b) Is this the short run or the long run for this firm? Explain your

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