ual ASSI https://canvas.illinois.edu/courses/15315/quizzes/171909/take Upload Choose a File bus dules inouncements D Question 5 12 pts iscussions Coursera MOOC 1 On a graph for a representative firm in a perfectly competitive industry, depict the three cost curves Coursera MOOC 2 AVC, ATC, and MC (assume typical U-shaped cost curves). Grades Now assume the market price, P, is such that it intersects the upward sloping portion of MC below AVC. Graphically depict the short run equilibrium q (representative firm's output) and it Assignments (representative firm's profit) under this price scenario. If it is not possible to depict the profits on the Media Gallery graph for the unique equilibrium that you've identified, then state what the profits are equal to using an algebraic expression and explain in your narrative. Please provide a narrative explanation of your graph, with an emphasis on explaining a representative firm's economic profitability. Please upload an MS Word, Adobe PDF, or a picture file (JPEG, TIFF, PNG, BMP) with your graph and a narrative explanation as your response to this question. Please limit your file size to no more than 5 MBs. Upload Choose a File