On the following graph, plot the three SRATC curves for Scooter's Scooters from the previous table. Specifically, use the green points (triangle symbol) to plot its SRATC curve if it operates one factory (SRATC); use the purple points (diamond symbol) to plot its SRATC curve if it operates two factories (SRATC2); and use the orange points (square symbol) to plot its SRATC curve if it operates three factories (SRATC). Finally, plot the long- run average total cost (LRATC) curve for Scooter's Scooters using the blue points (circle symbol). Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. AVERAGE TOTAL COST (Dollars per scooter) 800 720 640 560 480 400 320 240 160 80 0 0 100 200 300 400 500 600 700 QUANTITY (Scooters) SRATC SRATC₂ SRATC LRATC (?)
On the following graph, plot the three SRATC curves for Scooter's Scooters from the previous table. Specifically, use the green points (triangle symbol) to plot its SRATC curve if it operates one factory (SRATC); use the purple points (diamond symbol) to plot its SRATC curve if it operates two factories (SRATC2); and use the orange points (square symbol) to plot its SRATC curve if it operates three factories (SRATC). Finally, plot the long- run average total cost (LRATC) curve for Scooter's Scooters using the blue points (circle symbol). Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. AVERAGE TOTAL COST (Dollars per scooter) 800 720 640 560 480 400 320 240 160 80 0 0 100 200 300 400 500 600 700 QUANTITY (Scooters) SRATC SRATC₂ SRATC LRATC (?)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please correct answer and don't use hand rating
Transcribed Image Text:On the following graph, plot the three SRATC curves for Scooter's Scooters from the previous table. Specifically, use the green points (triangle
symbol) to plot its SRATC curve if it operates one factory (SRATC); use the purple points (diamond symbol) to plot its SRATC curve if it operates two
factories (SRATC2); and use the orange points (square symbol) to plot its SRATC curve if it operates three factories (SRATC). Finally, plot the long-
run average total cost (LRATC) curve for Scooter's Scooters using the blue points (circle symbol).
Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
AVERAGE TOTAL COST (Dollars per scooter)
800
720
640
560
480
400
320
240
160
80
0
0
100
200
300
400
500
600
700
QUANTITY (Scooters)
SRATC
SRATC₂
SRATC
LRATC
(?)
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