Question 1. Mr. Jack is in the process of expanding his manufacturing business. He decided to open a plant in the coming year. He has four locations in mind. The costs information for these locations is in the following table. Locations A B C D Fixed Costs 60000, 80000, 100000, 130000 Variable Costs/unit 30, 20, 15, 10 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 200, 400, 600, 800 etc. and intervals of $50,000 on the Y axis.
Question 1. Mr. Jack is in the process of expanding his manufacturing business. He decided to open a plant in the coming year. He has four locations in mind. The costs information for these locations is in the following table. Locations A B C D Fixed Costs 60000, 80000, 100000, 130000 Variable Costs/unit 30, 20, 15, 10 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 200, 400, 600, 800 etc. and intervals of $50,000 on the Y axis.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section: Chapter Questions
Problem 4CQQ
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1. Mr. Jack is in the process of expanding his manufacturing business. He decided to open
a plant in the coming year. He has four locations in mind. The costs information for
these locations is in the following table.
Locations A B C D
Fixed Costs 60000, 80000, 100000, 130000
Variable
Costs/unit 30, 20, 15, 10
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 200, 400, 600, 800 etc. and intervals of $50,000 on the Y axis.
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