There are economies of scale in ranching, especially with regard to fencing land. Suppose that barbed-wire fencing costs $13,000 per mile to set up.

There are economies of scale in ranching, especially with regard to fencing land. Suppose that barbedwire fencing costs $13,000 per mile to set up. Instructions: Enter your answers as a whole number. a. How much would it costto fence a single property whose area is one square mile ilthat property also happens to be perfectly square, with sides that are each one mile long? 55 b. How much would it cost to fence exactly four such properties, which together would contain four square miles of area? 55 c. Now consider how much it would cost to fence in four square miles of ranch land if, instead, it comes as a single large square that is two miles long on each side. 55 d. Which is more costlyfencing in the four, one-squaremile properties or the single foursquaremile property? 0 The single foursquare-mile property 0 Four, onesquare-mile properties