Economics: Principles, Problems, and Policies, 19th Edition

Published by McGraw-Hill Education
ISBN 10: 0073511447
ISBN 13: 978-0-07351-144-3

Chapter 7 - Businesses and the Costs of Production - Problems: 4

Answer

Cost of one property: 40,000 dollars Cost of four properties: 160,000 dollars Cost of a single large property: 80,000 dollars

Work Step by Step

Cost of one property: 10,000$\times$4 = 40,000 Cost of four properties: 40,000$\times$4 = 160,000 Cost of a single large property: 10,000$\times$8 = 80,000
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