A Homeowner Has Fences on Three Sides of Her Property

question 17

Short Answer

A homeowner has fences on three sides of her property and a stream runs along the fourth side. She makes measurements of the distance to the stream every 10 feet as illustrated. What is the approximate area of her property? Enter just an integer (no units).

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Definitions:

Marginal Cost

The change in total cost that arises when the quantity produced is incremented by one unit.

MC > MR

A condition where Marginal Cost (MC) is greater than Marginal Revenue (MR), suggesting that producing additional units of a good will not increase profits and may reduce them.

Profit

The financial gain realized when the revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Profit-Maximizing Quantity

The level of production at which a company achieves the highest possible profit.