Question: Assume that the most efficient production technology available for making vitamin pills has the cost structure given in the following table. Note that output is

 Assume that the most efficient production technology available for making vitamin
pills has the cost structure given in the following table. Note that

Assume that the most efficient production technology available for making vitamin pills has the cost structure given in the following table. Note that output is measured as the number of bottles of vitamins produced per day and that costs include a normal profit. a. What is ATC per unit for each level of output listed in the table? Instructions: Round your answers to 2 decimal places. MC ATC $ Output 50,800 $ 100,800 150,800 200.800 TC 170,000 220,000 257,500 365,500 0.80 1.10 1.71 2.45 b. Is this a decreasing-cost industry? (Click to select) C. Suppose that the market price for a bottle of vitamins is $1.71 and that at that price the total market quantity demanded is 301,600,000 bottles. How many firms will there be in this industry? firm(s) b. Is this a decreasing-cost industry? (Click to select) c. Suppose that the market price for a bottle of vitamins is $1.71 and that at that price the total market quantity demanded is 301,600,000 botties. How many firms will there be in this industry? firm(s) d. Suppose that. Instead, the market quantity demanded at a price of $171 is only 150,800. How many time do you expect there to be in this industry? firm(s) e. Review your answers to parts b. cand dDoes the level of demand determine this industry's market structure? (Click to select)

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