Question: The Energy Guide label of a refrigerator states that the refrigerator will consume $74 worth of electricity per year under normal use if the cost

The “Energy Guide” label of a refrigerator states that the refrigerator will consume $74 worth of electricity per year under normal use if the cost of electricity is $0.07/kWh. If the electricity consumed by the lightbulb is negligible and the refrigerator consumes 300 W when running, determine the fraction of the time the refrigerator will run.

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