We want to get the price per acre that she receives for the land, we will get that the price per acre is $2,777.8
First, we need to find the total area of the land.
There are two parcels, one with an area of 1 mi^2, and the other with dimensions of one-mile x half a mile, then the area of the other parcel is:
A' = (1 mi)*(0.5 mi) = 0.5 mi^2
The total area is the sum of these two, we get:
1 mi^2 + 0.5 mi^2 = 1.5 mi^2
And notice that we want to get the price per acre, knowing that:
1 mi^2 = 640 acres, then:
1.5 mi^2 = 1.5*(640 acres) = 900 acres.
The price per acre is equal to the quotient between the total price for the area and the number of acres, this gives:
P = ($2,500,000)/(900 acres) = $2,777.8
So each acre costs $2,777.8
If you want to learn more, you can read:
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