1.[Related to the Economics in Practice ] The Nevada state legislature passed a bill in 2015 authorizing the breakup of the Clark County School District into five evenly divided school precincts by the 2018–2019 school year. Clark County, which includes the city of Las Vegas, is home to the nation’s fifth largest school district, with approximately 320,000 students at 358 campuses. Although several reasons have been cited for splitting up this school district, assume that cost efficiency is the primary reason. Construct a graph with SRMC, SRAC, and LRAC curves that represents the Clark County School District before the breakup and the newly-formed school precincts resulting from the breakup. Use the concept of scale of production to explain the locations of the SRAC and SRMC curves on the graph.