An 85 hp motor is used 8 hrs per day, 250 days peryear. Electricity costs $0.10 per kWh. What is theexpected annual energy cost to operate this motor?1 hp = 0.746 kWSelect the closest answer.O $1,585 per yearO$55,547 per yearO$12,682 per year$18,516 per year

Given cost of electricity = 0.10 $ per KWH 1 hp = 0.746 kw Total motor Hp = 85

Answered: 1 hp = 0.746 kW

Business

Economics

1 hp = 0.746 kW

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Isocost and Isoprofit Curve Analysis

An isocost curve in the production theory that is a crucial part of economics depicts different combinations of factor inputs at a given market cost. In other words, this shows all the combinations of production factors that cost the same for the firm to employ. Usually, this can be depicted as a downward sloping straight line when the firms act as the price-takers in the factor markets. The slope of this mainly depicts the relative prices of different production factors.

Question

An 85 hp motor is used 8 hrs per day, 250 days per
year. Electricity costs $0.10 per kWh. What is the
expected annual energy cost to operate this motor?
1 hp = 0.746 kW
Select the closest answer.
O $1,585 per year
O
$55,547 per year
O
$12,682 per year
$18,516 per year

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