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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

The table below shows the production function of Bonnie’s Balloon Rides. Bonnie’s pays $500/day for each Balloon it rents and $25/day for each balloon operator it hires.

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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