Each graph illustrates three short-run cost curves for firms, where ATC is average total cost (also referred to as average cost), MC is marginal cost, and AVC is average variable cost. Please classify each of the graphs as valid or invalid based on what you know about the relationships between these curves. Valid Invalid Graph A Скаph B MC мС AVe ATC AVC ATC Ougut Outut Graph D Graph C мс мC AIC ATC AVC AVC Otut Outut Graph F Graph E мC мC AVC ATC ATC AVC Ouut Outut Answer Bank

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Q: B. when economic profits are zero

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A: Economies of Scale refers to the lower average costs of production as a firm operates on a larger…

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