Solve the Problem. -You Are Excavating on Your Property and One Company Charges

question 118

Multiple Choice

Solve the problem.
-You are excavating on your property and one company charges $71for each cubic meter of dirt Removed. How much will it cost for you to have dirt removed from an area that is 15 ft long, 35 ft Wide, and 6 ft deep?

• A) $94.50
• B) $223,650.00
• C) $7,455,000.00
• D) $6709.50

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Definitions:

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to buy at various prices.

Economic Profit

Economic profit is the total revenue of a company after subtracting both the explicit and implicit costs, including opportunity costs, reflecting the true profitability of a business.

ATC

Average Total Cost; it's the sum of all production costs divided by the quantity of output produced, representing the per-unit cost of production.

AVC

AVC, or Average Variable Cost, is the cost per unit of variable inputs divided by the quantity of output produced.