Question: Question is 3. Please help me 1. Show the relationship between production (TP, AP, MP) and costs of a firm (TC, TVC, TFC, MC, AFC,

Question is 3. Please help me

1. Show the relationship between production (TP, AP, MP) and costs of a firm (TC, TVC, TFC, MC, AFC, AVC, AC), in terms of the short run, in graphs. Please show the axes, values, points, curves and lines etc. clearly. Use different coloured pencils if you need them. (Producer Theory) 2. Interpret the short run relationship between productivity (TP, AP, MP) and costs of a firm (TC, TVC, TFC, MC, AFC, AVC, AC) , with the aid of the graphs that you have drawn for 1st question. (Producer Theory) 3. Show in 3 separate graphs the income and substitution effects for a normal good, inferior good and Giffen good, with an assumption that the price of the good INCREASES. Please show the axes, values, both the effects, points, curves and lines etc. clearly. Use different coloured pencils if you need them. (Consumer Theory)

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