Multiple Choice
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.
-Refer to the scenario above.For which of the following choices is the marginal total cost the lowest?
A) Choosing factory Close over factory Far
B) Choosing factory Far over factory Very Far
C) Choosing factory Very Close over factory Close
D) Choosing factory Close over factory Very Far
Correct Answer:
Verified
Correct Answer:
Verified
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