The table below shows the production function of Bonnies Balloon Rides. Bonnies pays $500/day for each Balloon it rents and $25/day for each balloon operator
On the LRAC what is the average cost of producing:
15 rides a day
18 rides a day
Assume # of Balloons rented
Labor(workers per day) 1 2 3 4
10 6 10 13 15
20 10 15 18 20
30 13 18 22 24
40 15 20 24 26
50 16 21 25 27
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Authors: Jerald Murdock, Ellen Kamischke, Eric Kamischke
1st edition
1559539844, 978-1604400069, 1604400064, 978-1559539845
