signment Saved Help Save & Exit Sul my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to questi 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 Answer is complete and correct. TC Output 50,400 100,400 150,400 200,400 MC $0.50 1.00 ATC 3.17 $160,000 210,000 247.500 345,500 $ $ s 1.65 2.35 2.09 1.65 1.72 S Instructions: Enter your answers rounded to two decimal places. a. What is ATC per unit for each level of outerit listed in the table? Enter your answers in the table above b. Are there economies of scale in production? Yes c. Suppose that the market price for a bottle of vitamins is $1.65. At that price the total market quantity demanded is 270,720,000 it. my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion Return to que Instructions: Enter your answers rounded to two decimal places a. What is ATC per unit for each level of output listed in the table? Enter your answers in the table above. b. Are there economies of scale in production? Yes c. c. Suppose that the market price for a bottle of vitamins is $1.65. At that price the total market quantity demanded is 270,720,000 bottles. How many firms will be in this industry? 1800 firm(s) d. Suppose that, instead, the market quantity demanded at a price of $1.65 is only 150,400. How many firms will be in this industry? 1 firm(s) e Review your answers to parts b, c, and d. Does the level of demand determine this industry's market structure? Yes A 18