In which scenario would demand be elastic?
1 answer:
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The perimeter of a square is the sum of its sides and they are all equal, so to obtain the length of each of them we divide the perimeter of the first fence between 4:
P1= 64 feet/4 sides
P1= 16 feet
Then, the length of each side of the second fence will increase 2 feet at each end, as shown in the figure. We have then that the perimeter of the second fence is:
P2 = 20 feet x 4 sides
P2 = 80 feet
The sum of the perimeters of both fences is:
PT = P1 + P2
PT = 64 feet + 80 feet
PT = 144 feet
Total cost = 1.17 $ x 144 feet
Total cost = 168.48 $
The total cost of the fences was $ 168.48
