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The table shows the production function of Bob's Arcade. Labor (workers per day) Option A (10 pinballs) Option B (15 pinballs) Option C (20 pinballs)

The table shows the production function of Bob's Arcade.

Labor

(workers per day) Option A (10 pinballs) Option B (15 pinballs) Option C (20 pinballs)

1 10 17 20

2 15 23 26

3 18 27 30

4 20 30 33

Bob's pays $20 a day to rent a pinball and $70 a day to hire a worker.

a)Graph the ATC curves for all options.

b)What is Bob's minimum efficient scale?

c)Identify the LRAC curve on your graph.

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