What is the net price of a log received by the lumberjack

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Question: Imagine a heavily forestedlinear island that is 60 miles long. There are sawmills at milemarkers 10, 30, and 50. Lumberjacks all over the island cut down logs, which are then floated to the sawmills(one lumberjack can only float one log at a time), where they are cut into lumber. At the sawmills, lumberjacks receive two gold pieces per log. Transportation costs are 1/8 of a gold piece per round-trip mile. What is the net price of a log received by the lumberjack living at mile marker 0? Draw this system of sawmills, with the mile markers on the horizontal and the net price received by lumberjacks on the vertical axis.

Reference no: EM132200460

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