Your friend Donald needs to decide where to build his manufacturing plant and asks Joe for advice because you don't have time to deal with Donald. After research, Joe finds that the wage costs in his area, based on distance to market, are as follows: 200 - 3x, while the shipping cost to get the goods to the consumer is 5x, where x is the distance to market Two equations. Draw the land bid for the manufacturing plant, considering a revenue constant of $450.

Your friend Donald needs to decide where to build his manufacturing plant and asks Joe for advice because you don't have time to deal with Donald. After research, Joe finds that the wage costs in his area, based on distance to market, are as follows: 200 - 3x, while the shipping cost to get the goods to the consumer is 5x, where x is the distance to market Two equations. Draw the land bid for the manufacturing plant, considering a revenue constant of $450.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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