a. i. Write an equation to represent the total costs for each location. ii. Draw the total costs lines for each location on the same axes. (Use output ranges of 2000, 4000, 6000, 8000 etc. and intervals of $50,000 on the Y axis.[ iii. Over what range of output is location A the most preferred location? iv. Over what range of output is location B the most preferred location? v. Over what range of output is location C the most preferred location?
a. i. Write an equation to represent the total costs for each location. ii. Draw the total costs lines for each location on the same axes. (Use output ranges of 2000, 4000, 6000, 8000 etc. and intervals of $50,000 on the Y axis.[ iii. Over what range of output is location A the most preferred location? iv. Over what range of output is location B the most preferred location? v. Over what range of output is location C the most preferred location?
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 23RQ: Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost,...
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a.
i. Write an equation to represent the total costs for each location.
ii. Draw the total costs lines for each location on the same axes. (Use output ranges
of 2000, 4000, 6000, 8000 etc. and intervals of $50,000 on the Y axis.[
iii. Over what range of output is location A the most preferred location?
iv. Over what range of output is location B the most preferred location?
v. Over what range of output is location C the most preferred location?
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