Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to "Calculate," you must show how you arrived at your final answer.
AirCab is the only airline that flies to and from a small island nation. It is currently operating while earning short run negative economic profit.
(a) Draw a correctly labeled graph for AirCab and show each of the following.



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