Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
ssi15 ssi15
wrote...
Go to Answer
Posts: 143
Rep: 0 0
A year ago
Assume that a firm wants to set up a factory. It considers four different locations. The rent of the factory space and the time taken to transport the products from each of the locations to the market is shown in the table below. It is also given that the opportunity cost of time is $10 per hour.
a) Which is the optimum location?
b) If the opportunity cost of time changes to $30 per hour, is there any change in the optimum?

LocationTime Taken to Transport Products to the Market (hours per month)Rent ($ per month)
11803,000
21503,200
31003,600
4604,100
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
Read 26 times
1 Reply
Replies
Answer verified by a subject expert
DratiniDratini
wrote...
#1
Posts: 151
Rep: 0 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
This verified answer contains over 240 words.
1

Related Topics

ssi15 Author
wrote...

A year ago
Thanks
SlimyPencil
wrote...

Yesterday
Thanks
foxrcng11
wrote...

2 hours ago
Brilliant ツ
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1379 People Browsing
 130 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 4428
  
 660
  
 332
Your Opinion
Which of the following is the best resource to supplement your studies:
Votes: 249
Previous poll results: Do you trust social media networks with protecting your privacy?