Question: Please help with this question 1) Following graph (first panel) represents the cost functions of a firm. Assume that there are 1000 identical firms in

Please help with this question

1) Following graph (first panel) represents the cost functions of a firm. Assume that there are 1000 identical firms in this industry and it is a constant cost industry. Draw short-run market supply curve in the second panel and long-run market supply curve in the 3" panel. $10 $10 $10 i,ATC 9 MC 9 9 8 B AVC un O O 1 2 3 4 5 6 7 8 9 10 Quantity (in 1,000s) Market quantity (in 1,000s) Market quantity (in 1,000s)

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