Solve the Problem. -A Rectangular Piece of Tin Has an Area of 496

question 122

Multiple Choice

Solve the problem.
-A rectangular piece of tin has an area of 496 square inches. A square of 2 inches is cut from each corner, and an open box is made by turning up the ends and sides. If the volume of the box is 648 cubic inches, what were the
Original dimensions of the piece of tin?

• A)18 in. by 33 in.
• B)12 in. by 25 in.
• C)16 in. by 31 in.
• D)14 in. by 29 in.

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Definitions:

Black Market

An illegal traffic or trade in officially controlled or scarce commodities, bypassing governmental regulation or taxation.

Binding Price Floor

A government-imposed price control that sets the minimum price above the equilibrium price, causing a surplus in the market.

Deadweight Loss

An economic inefficiency caused by a deviation from the optimal allocation of resources, often resulting from market distortions like taxes or subsidies.

Equilibrium Quantity

The quantity of goods or services supplied is equal to the quantity demanded at the market equilibrium price.