Question: (LO 8-3) In the regression model, Total production costs = 0 + 1 (board feet), why is 0 considered to be the total fixed costs

(LO 8-3) In the regression model, Total production costs = β0 + β1 (board feet), why is β0 considered to be the total fixed costs and β1 an estimate of the variable cost per board foot?

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