Georgetown Cupcake in Washington, D.C. bakes delicious gourmet cupcakes. Cupcake bakeries are a (perfectly) competitive business in this area so keeping costs under control matters. At its current production level, Georgetown Cupcake has hired MBA students to analyze the following data estimates: - Cupcake Price: $4 - Quantity sold per week: 150 . Total variable cost per week = $650 - Average xed cost: $1 -. Georgetown Cupcake is producing where AVC Is minimized Based on this data, what is the best advice the students can give Georgetown Cupcake? Q You are already doing the best you can, given costs and price, so keep production at the same level. 0 increase your cupcake output to increase total revenue; you face an elastic demand curve, sell more cupcakes. so the only way to increase your revenue is to O Decrease your cupcake output to decrease your total costs, then you can cover your operating expenses. 0 Shut down immediately. 0 We need more information