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sunkiss22 sunkiss22
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A year ago
Scenario: A firm wants to set up a factory. It has four different options. The rent of the factory in each of the four different locations and the time taken to transport the product from each location to the market is shown in the table below. The opportunity cost of time is $10 per hour.

Factory LocationMonthly Commuting Time (hours)Monthly Rent ($)
Very Far302,060
Far252,100
Close152,300
Very Close52,500


Refer to the scenario above. Which is the optimum location for the firm to set up its factory?

▸ Very Close

▸ Very Far

▸ Close

▸ Far
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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anikamazumderanikamazumder
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A year ago
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sunkiss22 Author
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You make an excellent tutor!
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