If 5000 Feet of Fencing Are Used to Enclose a Rectangular

question 162

Multiple Choice

If 5000 feet of fencing are used to enclose a rectangular field, the resulting area of the field is A=x(2500-x) , where x is the width of the pen. What is the maximum possible area of the pen?

• A) 62,500ft²
• B) 1,562,500ft²
• C) 1250ft²
• D) 31,250ft²

---

Definitions:

Chronic Excess Capacity

A persistent situation in which industries or firms have more production capacity available than is being used, often leading to economic inefficiencies and reduced profit margins.

Minimum-Cost Output

The quantity of output at which the average total cost is lowest—the bottom of the U-shaped average total cost curve.

Perfectly Competitive

refers to a market structure where there are many buyers and sellers, all selling identical products, with no single market participant being able to influence the market price.

Monopolistically Competitive

A market structure characterized by many firms selling similar but not identical products, with some degree of market power.