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The following graphs (A-C) show the marginal cost marginal revenue, and average total cost curves for a typical perfectly competitive firm a. Identify the profit maximizing level of output for each firm in graphs A-C. Instructions: Use the tool 'Qto label the profit-maximizing level of output for each firm Perfectly Competitive Firm A Graph A 10 Tools MG 9 7 6 Price 5 4 MR 3 2 0 2 3 14 5 6 7 8 Quantity Perfectly Competitive Firm B Graph B 10 Tools MC 9 --9 00 ATC 7 6 Price 5 MR 4 3 2 E 0 0 1 2 3 4 5 6 7 8 9 10 Quantity Perfectly Competitive Fim C Graph C Tools MC 9 ATC Price MR 3 2 1 e 0 2 3 4 5 6 7 8 9 10 Quantity b. Which of the above graphs represents a typical perfectly competitive firm earning economic profits? Graph 8 c. Which of the above graphs represents a typical perfectly competitive firm earning economic losses? Graph A d. Which of the above graphs represents a pical perfectly competitive firm earning zero economic profit? Graphc