Question Two: Long run cost Jackie's Canoe Rides rents canoes at $100 per day and pays $50 per day for each canoe operator it hires. The table below shows the rm's total product in terms of rides per day for each plant size. Labor Plant 1 {10 canoes) Plant 2 (20 canoes) Plant 3 (30 canoes) Plant 4 {40 canoes) (workers TPt ATC 1 TP: ATC; TPJ ATCJ. TP4 ATC4 per day) (rides) (S) (rides) (S) (rides) (93) (rides) (93) ID 20 40 55 65 2D 40 60 75 85 30 65 75 90 100 40 75 85 100 1 10 a Calculate the avera e total cost of roduction for each lant size. / 4% ( ) g p p ( _ J (b) Graph the average total cost of production curve for each plant size on the same diagram. ( 7 / 4%) (c) Indicate clearly Jackie's long run average cost of production curve in the diagram in (b). ( 7 / 3%) (d) Jackie's minimum efficient scale is . (_ / 3%) (e) Explain the underlying reason for the shape of the long run average cost of production that you have obtained. ( 7 / 3%)