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5.3 Short-run costs of production #2 Instructions: The graph below shows the short-run costs of production for an ice cream shop. Identify the labels for
5.3 Short-run costs of production #2 Instructions: The graph below shows the short-run costs of production for an ice cream shop. Identify the labels for each of the cost curves and briefly explain what each curve represents. Ice Cream Shop's SR (monthly) Costs $5 Costs of Production $4 2. $3 3. $2 $1 4. 2,000 4,000 6,000 8,000 10.000 Quantity of Output (number of servings per month) 1. Identify and define each of the curves labeled on the graph: 1. Define: 2. Define
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