Carry the Answer to Three Decimal Places $I _ { S }$

question 30

Short Answer

Carry the answer to three decimal places. A set of 2-inch-wide by $I _ { S }$ -inch-thick carbon brushes fits the brush holders too tightly. It is necessary to take $I _ { H }$ inch off the width and 0.015 inch off the thickness by sanding. Give in decimal form the thickness dimension of the carbon brushes after sanding.

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Definitions:

Constant-Cost Industry

An industry in which the entry and exit of firms have no effect on the prices firms in the industry must pay for resources and thus no effect on production costs.

Resource Prices

The costs associated with acquiring the inputs or factors of production, such as labor, capital, and natural resources.

Output Increased

A scenario where production levels rise due to enhanced efficiency, greater demand, or improvements in labor and capital.

Increasing-Cost Industry

An industry in which expansion through the entry of new firms raises the prices firms in the industry must pay for resources and therefore increases their production costs.