Save&xit; Submit Question 4 (of 11) 4. There are economies of scale in ranching,

Question

Save&xit; Submit Question 4 (of 11) 4. There are economies of scale in ranching, especially with regard to fencing land. Suppose that barbed-wire fencing costs $14,000 per mile to set up. Instructions: Enter your answers as whole numbers a. How much would it cost to fence a single property whose area is one square mile if that property also happens to be perfectly square, with sides that are each one mile long? $ b. How much would it cost to fence exactly four such properties, which together would contain four square miles of area? $ c. Now, consider how much it would d. Which is more costly-fencing in the four cost to fence in four square miles of ranch land t,Instead, t comes as a single large square hat is two miles long on each side. $ one-square-mile properties or the single four-square-mile property Four, o 888 a 5 7 8 9 a W

Explanation / Answer

a) Fencing is on the boundary of property. Perimeter of Square property = 4 x side = 4 x 1 mile = 4 mile

Cost of fencing 1 mile = $ 14,000

Cost of fencing 4 miles= 4 x 14000 = $ 56,000

b) Cost of fencing 1 square property = $ 56,000

So, cost of fencing 4 such property = 4 x 56,000 = $ 224,000

c) One side of new land = 2 miles

Perimeter of new land = 4 x 2 = 8 miles

cost of fencing this new property = 8 miles x 14000 = $ 112,000

d) Four, one-square-mile properties

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