Changing Costs. Consider the paddle production example shown in Table 23.2 on page 521. Compute the short-run average cost for 10 paddles with the following changes. a. Your opportunity cost of work...

Changing Costs. Consider the paddle production example shown in Table 23.2 on page 521. Compute the short-run average cost for 10 paddles with the following changes.

a. Your opportunity cost of work time triples, from $50 to $150.

b. The interest rate for invested funds is cut in half, from 10 to 5 percent.

c. Labor productivity—the quantity produced by each workforce—doubles.