Question: Question 3 : Graphs ( 5 points each ) Draw the short - run ATC, AVC, MC , MR and Demand graphs. In each part,

Question 3: Graphs (5 points each)
Draw the short-run ATC, AVC, MC, MR and Demand graphs. In each part, shade the profit or loss. Clearly label equilibrium Q and P
Draw a long-run situation for a monopolistic competitive firm
Draw a monopoly and perfectly competitive industry on the same graph space for profit Only show equilibrium quantity and price of monopoly (Qm and Pm) and quantity and price for a perfect competition situation denoted as (Qpc and Ppc).
Question 3 : Graphs ( 5 points each ) Draw the

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