The financial statement reporting "filter" is: SEC reporting regulations that vary from GAAP for publicly traded companies. management's distortion of accounting data. management's discretion to choose alternative accounting procedures with in GAAP SEC required reporting regulations for all entities.

Afirm is producing at minimum average total cost with its current plant. draw the firm's long-run average cost curve. label it. draw a point on the lrac curve at which the firm cannot lower its average total cost. draw the firm's short-run average total cost curve that is consistent with the point you have drawn. label it.g