3. Consider a manufacturing firm that occupies 5 acres of land. The firm produces 20 tons of sugar per day and sells its product at a price of $80 per ton. The firm does not engage in factor (capital and land) substitution as the price of land changes. Intraurban transportation is on trucks, with a unit cost of $10 per ton per mile. The firm's nonland cost is $300 per day. The firm exports its output via beltway. a) Draw the firm's bid rent curve for land for different distances from the beltway, from a distance of zero to four miles. (10p) b) What is the slope of the bid rent curve? Please interpret its meaning. (6p)