How Many Feet of Fence Will It Take to Enclose

question 20

Multiple Choice

How many feet of fence will it take to enclose a rectangular plot 40 feet by 30 feet if an opening of 5 feet is to be left for a gate?

• A) 70 feet
• B) 135 feet
• C) 140 feet
• D) 65 feet

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Definitions:

Supply Of Labor

The total number of workforce hours available for work in an economy at a given wage rate.

Perfectly Elastic

A situation where the quantity demanded or supplied changes infinitely in response to any change in price.

Marginal Expenditure Curve

A graphical representation that shows the change in total expenditure incurred by purchasing one additional unit of a good or service.

Economic Rent

Amount that firms are willing to pay for an input less the minimum amount necessary to obtain it.