A Wooden Raft Has a Mass of 55 Kg $\text { (density } 1000 \mathrm {~kg} / \mathrm { m } ^ { 3 } \text { ) }$

question 25

Short Answer

A wooden raft has a mass of 55 kg. When empty it floats in water $\text { (density } 1000 \mathrm {~kg} / \mathrm { m } ^ { 3 } \text { ) }$ with 64% of its volume submerged. What maximum mass of sand can be put on the raft without sinking it?

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Definitions:

Marginal Cost

The cost implicated in the production of one more unit of a good or service.

Perfectly Competitive

A market structure characterized by many small firms, a homogeneous product, no barriers to entry or exit, and where no single firm can influence the market price.

Profit-maximizing

The process of making business decisions that aim to increase the difference between total revenues and total costs to the highest possible level.

Marginal Revenue Product

The additional revenue generated by employing one more unit of a factor, such as labor or capital.