Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Labor
(workers
per day)
5
10
15
20
25
Pletna Boats
Output
(rides per day)
Plant 1
00
11
13
14
1
Plant 2
00
13
16
18
19
2
Plant 3
11
16
20
22
23
3
Plant 4
13
18
22
24
25
4
The table shows the production function of Pletna boat rides in lake Bled, Slovenia. The authorities
of lake Bled pay €350 a day for each Pletna boat it rents and €30 a day for each boat operator they
hire.
Graph the ATC curves for Plant 1, Plant 2, Plant 3 and Plant 4. Explain why these ATC curves differ.
Please upload your diagrams and explanations.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5345284c-cba7-4701-8ac5-58f8432ade6c%2Fc7378759-8126-482f-b151-f7cb3895a4c9%2Fz7g55qp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Labor
(workers
per day)
5
10
15
20
25
Pletna Boats
Output
(rides per day)
Plant 1
00
11
13
14
1
Plant 2
00
13
16
18
19
2
Plant 3
11
16
20
22
23
3
Plant 4
13
18
22
24
25
4
The table shows the production function of Pletna boat rides in lake Bled, Slovenia. The authorities
of lake Bled pay €350 a day for each Pletna boat it rents and €30 a day for each boat operator they
hire.
Graph the ATC curves for Plant 1, Plant 2, Plant 3 and Plant 4. Explain why these ATC curves differ.
Please upload your diagrams and explanations.
![On the lake authorities' LRAC curve:
The average cost for 13 rides a day is [Select]
The average cost for 22 rides a day is [Select]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5345284c-cba7-4701-8ac5-58f8432ade6c%2Fc7378759-8126-482f-b151-f7cb3895a4c9%2Fvnhbkbl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On the lake authorities' LRAC curve:
The average cost for 13 rides a day is [Select]
The average cost for 22 rides a day is [Select]
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