Consider the case of Bob’s Bakery. Bob’s uses two inputs to make loaves of bread: labour (bakers) and capital (ovens). S

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Consider the case of Bob’s Bakery. Bob’s uses two inputs to make
loaves of bread: labour (bakers) and capital (ovens). Suppose the
firm’s rental payments on ovens add up to $40 a day. It can produce
between 100 and 300 loaves per day in batches of 50. Suppose that
if the firm produces 100 loaves in a day, its labour cost (wages
for bakers) is $500. Suppose that when the firm produces an extra
50 loaves a day, its labour cost rises by $200. Summarise this
information in a table with the following column headings: