Problem
Draw a long run average cost and marginal cost curve for a business and explain why they have this shape.
- Also on the graph show a P1 that is very profitable for this firm and the Q1 associated with this P1.
- Explain why this may not be sustainable in the long run.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.