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A new production technology for making vitamins is invented by a college professor who decides not to patent it. Thus, it is available for anybody

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A new production technology for making vitamins is invented by a college professor who decides not to patent it. Thus, it is available for anybody to copy and use. The TC per bottle for production up to 100,000 bottles per day is given in the following table. Output TC ATC 25,000 $100,000.00 50,000 120,000.00 75,000 125,000.00 100,000 130,000.00 Instructions: In part a, round your answers to 2 decimal places. In parts c and d, enter your answers as a whole number. a. What is ATC for each level of output listed in the table? Enter your answers in the table above. b. Suppose that for each 25,000-bottle-per-day increase in production above 100,000 bottles per day, TC increases by $5,000 (so that, for instance, 125,000 bottles per day would generate total costs of $135,000 and 150,000 bottles per day would generate total costs of $140,000). Is this a decreasing-cost industry? (Click to select) v c. Suppose that the price of a bottle of vitamins is $2.33. At that price, the total quantity demanded by consumers is 75,000,000 bottles. How many firms will be in this industry? firm(s)

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