EcoPaper is a Canadian paper product manufacturer that has three plants worldwide. The locations, capacity, transportation and production costs are shown in a table below. The production costs are in the local currency of the country where the plant is located. The major markets for their paper products are North America, Europa, and Asia. Each plant cannot run below 50% of its capacity. Given the exchange rates, formulate a model that will minimize the costs. Transportation costs (in Dollars) Europe Asia Production Cost per ton (In Local Currency) Capacity (ton/yr) North America Canada 600 1,300 600 1,400 2,000 1,400 10000 Dollars 380 France 1,300 15000 Euros 475 Japan Demand 2,000 300 1800000 Yen 350 270 200 120 (in tons) Exchange Dollar Euro Yen Rate Dollar 1.00 0.68 89.87 Euro 1.47 1.00 132.22 Yen 0.01 0.01 1.00 If EcoPaper's management considers closing down one of its plants to cut down the costs, how will it change the model formulation? If instead of assuring 50% capacity level for each plant, EcoPaper decides to supply each market by only one plant, how will it change the model formulation!