Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only one factory. However, it is considering expandino production to two or even three factories. The following table shows the company's short run average total cost each month for various levels of production if it uses one, two, or three factories. (Note: Qequals the total quantity of bikes produced by all factories.) Q-200 Number of factories 1 Q = 100 440 Average Total Cost (Dollars per bike) Q = 300 Q400 240 320 240 240 Q = 500 480 Q = 600 720 320 2 580 400 400 580 3 720 480 320 240 320 440 Suppose Ike's Bikes is currently producing 100 bikes per month in its only factory. Its short run average total cost is per bike Suppose Ike's Bikes his expecting to produce 100 bikes per month for several years. In this case, in the long run, it would choose to produce bikes using On the following graph plot the three short-run average total cost curves (SRATC) for Ike s Bikes from the previous table Specificaly, use the green points (eriangle symbol) to plot its short-run average total cost of it operates one factory (SRATC): use the purple points (diamond symbol) to plot its short-run average total cost if it coorates two factores (SRATCand use the orange points (souaresme) to plor its short-run average total cost it at operates three factores (SRATC). Finally, plot the long-run average total cost (IRATC) for Ike's Bikes using the blue points (arde symbol). Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 2 800 A 540 SRATC 500 480 AVERAGE TOTAL COST (Dolars per bike) SRATC, - 400 320 SRATC 240 100 LRATC 80 0 000 700 100 200 300 400 500 QUANTITY OF OUTPUT (Bikes 480 SRATC, 400 AVERAGE TOTAL COST (Dolar 320 SRATC, 240 180 LRATC 80 0 0 100 600 700 200 300 400 500 QUANTITY OF OUTPUT (Bikes) In the long run, over which range of output levels does Ike's Bikes experience constant returns to scale? O More than 400 bikes per month Between 300 and 400 bikes per month Fewer than 300 bikes per month