Assume that each semiconductor chips firm faces conventional production technology. This question concentrates on the cost curves of these firms before the pandemic and before the CHIPS Act is implemented.

1. Depict a graph that shows the typical pre-pandemic average fixed costs (AFC), average variable costs (AVC), average total costs (ATC), and marginal costs (MC) for an individual semiconductor firm.
2. Label the horizontal and vertical axis.
3. Label the curves as AFC₀, AVC₀, ATC₀, and MC₀.

Based on this, is the attached graph correct?