Solve the Problem $\$ 4.50$ Per $\mathrm { m } ^ { 3 }$

question 116

Multiple Choice

Solve the problem. Use π = 3.14 when necessary.
-At $\$ 4.50$ per $\mathrm { m } ^ { 3 }$ , how much will it cost to fill an aquarium with dimensions of $4 \mathrm {~m} \times 5 \frac { 1 } { 2 } \mathrm {~m} \times 3 \frac { 1 } { 2 } \mathrm {~m}$ ? Round to the nearest cent.

• A) $346.50
• B) $303.19
• C) $544.50
• D) $252.00

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Definitions:

Cartel

A group of independent market participants who collude to control prices and production in order to monopolize a market.

Fixed Cost

Costs that do not change with the level of output, such as rent or salaries.

Cartel

A formal agreement among competing firms to control prices or exclude entry of a new competitor in the market, often resulting in higher prices.

Marginal Cost

Marginal Cost is the cost of producing one more unit of a good or service, a crucial concept in economics for decision-making and pricing strategies.