A toll road commission is planning to locate garages for tow trucks along a 94-mile circular highway. Each garage has a fixed cost of $4,500 per day. Towing jobs are equally likely along any point of the highway, and cost per mile towed is $47. If there were 4,500 towing jobs per day, what number of garages would minimize the sum of the fixed costs and towing costs? Instructions: Enter your answer as a whole number. garages

A toll road commission is planning to locate garages for tow trucks along a 94-mile circular highway. Each garage has a fixed cost of $4,500 per day. Towing jobs are equally likely along any point of the highway, and cost per mile towed is $47. If there were 4,500 towing jobs per day, what number of garages would minimize the sum of the fixed costs and towing costs? Instructions: Enter your answer as a whole number. garages

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question 22
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