Solutions Economics

High-Low Method Manchester Foundry produced 45,000 tons of steel in March at a cost of £1,150,000. I

Question: High-Low Method

Manchester Foundry produced 45,000 tons of steel in March at a cost of £1,150,000. In April, the foundry produced 35,000 tons at a cost of £950,000. Using only these two data points, determine the cost function for Manchester.

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