Solve the Following Problem

question 77

Short Answer

Solve the following problem. Be sure to make a diagram of the situation with all the given information labeled. Apply the rules regarding the use of significant digits when determining your answers. A boat travels on a course of bearing for 78.7 miles. How many miles north has the boat traveled? __________ mi
How many miles west has the boat traveled? __________ mi

---

Definitions:

Diminishing Returns

A principle stating that adding an additional factor of production results in smaller increases in output.

Marginal Product

The additional output resulting from the use of one more unit of a factor of production.

Labor

Human effort used in the production of goods and services.

Perfect Competition

A market structure characterized by a large number of small firms, identical products sold by all firms, no barriers to enter or exit the market, and perfect knowledge of prices and technology.