Ike's Bikes is a major manufacturer of bicydes. Currently, the company produces bikes using only one factory. However, it is considenng expanding production to two or even three factories. The following table shows the company's short-run average total cost (SRATC) each month for various levels of production if it uses one, two or three factores. (Note: Q equals the total quantity of bikes produced by all factories.) Number of Factories Average Total Cost (Dollars per bike) Q = 300 Q400 240 320 Q = 100 Q-500 Q200 280 Q = 600 800 1 440 480 2 620 380 240 240 380 620 3 300 480 320 240 280 440 per bike Suppose Ike's Bikes is currently producing 100 bikers per month in its only factory. Its short-run average total cost is s Suppose Ike's Bikes is 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 SRATC curves for Ike's Bikes from the previous tabte, specifically, use the green points (triangle symbol) to plot JE SRATC curve if it operates one factory (SRATC), use the purple points (chamond symbol) to plotits SRATC Curve it it operates two factories SRATC); and use the orange points (square symbol) to plot its SRATC arve if it operates throe factores (SRATC), Miraly, plot the long run average total cost (LRATC) curve for the bikes using the bike points (orde symbol). Note: Mot your points in the order in which you would like them connected. Une segments will connect the points automatically ? 100 720 A 540 SRATC, 560 430 SRATC AVERAGE TOTAL COST (Dolars per bike) 430 320 240 SRATC 0 160 LRATC 30 100 200 300 400 QUANTITY (Bikes) 500 500 700 In the following table, indicate whether the long-run average cost curve exhibits economies of scale, constant returns to scale, or diseconomies of scale for each range of bike production Range Economies of Scale Constant Returns to Scale Diseconomies of Scale fewer than 300 bikes per month Between 300 and 400 bikes per month More than 400 bikes per month