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11 Nov 2019
There are economies of scale in ranching, especially with regardto fencing land. Suppose that barbed-wire fencing costs $10,000 permile to set up.
How much would it cost to fence a single property whose area is onesquare mile if that property also happens to be perfectly square,with sides that are each one mile long?
$ for the single one-square-mile property
How much would it cost to fence exactly four such properties, whichtogether would contain four square miles of area?
$ for four of the one-square-mile properties
Now, consider how much it would cost to fence in four square milesof ranch land if, instead, it comes as a single large square thatis two miles long on each side.
$ for the single four-square-mile property
Which is more costly
There are economies of scale in ranching, especially with regardto fencing land. Suppose that barbed-wire fencing costs $10,000 permile to set up.
How much would it cost to fence a single property whose area is onesquare mile if that property also happens to be perfectly square,with sides that are each one mile long?
$ for the single one-square-mile property
How much would it cost to fence exactly four such properties, whichtogether would contain four square miles of area?
$ for four of the one-square-mile properties
Now, consider how much it would cost to fence in four square milesof ranch land if, instead, it comes as a single large square thatis two miles long on each side.
$ for the single four-square-mile property
Which is more costly
Nestor RutherfordLv2
25 Sep 2019