Question: Please draw the typical looking graphs for marginal product and average product (1 graph is all that is needed) (5 points). Please draw the graph
Please draw the typical looking graphs for marginal product and average product (1 graph is all that is needed) (5 points).
Please draw the graph for a perfectly competitive firm operating in short run at break even. Be sure to include ATC, AVC, MC, and Price/MR as well as show Q*. (5 points)
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