Question

There are economies of scale in ranching, especially with regard to fencing land. Suppose that barbed-wire fencing costs $20,000 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

Answer 1

Answer:

It will cost $80,000 to fence that area.

Explanation:

Barbed-wire fencing costs $20,000 per mile to set up.

The property that is to be fenced is a perfect square with sides that are one square mile each.

The perimeter of the property

= $Side\ \times\ 4$

= $1\ square\ mile\ \times\ 4$

= 4 square miles

The cost of fencing

= $Length\ \times\ Cost$

= $4\ \times\ \ 20,000$

= $80,000