Please provide me with the correct answer, complete with a detailed explanation and calculations; otherwise, I will give multiple downvotes.Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. 41The figure below gives the long-run (LR) and short-run cost curves (SR, dotted) of a firm. The figure makes adistinction between the average (A) and marginal (M) cost curves. Moreover, for the short-run a distinction ismade between the variable (V) and the total (7) cost.The firm experiences economies of scale for output levels up to...€LRACSRATCSRAVC986100LRMC SRMCXa9=50b q=54c q=60d q=9050 60 90549

The cost is defined as the expenditure that a firm or business has to bear on producing a good or…

41 The figure below gives the long-run (LR) and short-run cost curves (SR, dotted) of a firm. The figure makes a distinction between the average (A) and marginal (M) cost curves. Moreover, for the short-run a distinction is made between the variable (V) and the total (7) cost. The firm experiences economies of scale for output levels up to... € LRAC SRATC SRAVC 10 8 6' LRMC SRMC 0 50 60 90 9 54 X a 9=50 b 9=54 C 9=60 d q=90