Question: 3) Suppose we wish to construct a rectangular corral that contains 100 square feet. If the two opposite sides of the fence cost $5 per

3) Suppose we wish to construct a rectangular corral that contains 100 square feet. If the two opposite sides of the fence cost $5 per square foot, and the other two opposite sides of the fence cost $20 per square foot, what would be the dimensions of the fence of least cost, and how much would that fence cost? Why do you consider this the fence of least cost? Answer using a simple sentence

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1. Identify your reference point when making a decision based on an element of risk.

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.

4. It is only at this point that you can give the problem your full attention in relation to the various ways you have framed the problem.