1. Transportation costs per ton of product vary with distance. For trucks: TC, = 2+1.5d For rail: TC, = 4+d For barge: TC = 6+.75d where d is the distance in miles and TC is dollars per ton. Make a table that includes the costs for each method from d= 1, 2...5, and what is the most efficient mode of transportation at each distance.

1. Transportation costs per ton of product vary with distance. For trucks: TC, = 2+1.5d For rail: TC, = 4+d For barge: TC = 6+.75d where d is the distance in miles and TC is dollars per ton. Make a table that includes the costs for each method from d= 1, 2...5, and what is the most efficient mode of transportation at each distance.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 11RQ: What is die difference between accounting and economic profit?

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