Answer:
Area of the resulting rectangle = 23.375 inch²
Explanation:
After 1 fold width or length reduces to half.
Area = Length x width
So after 1 fold area will reduce to half.
So we have

Initial area = 8.5 x 11 = 93.5 inch²
Here the paper were folded completely in half, length is reduced to half and width reduced to half, that is
Number of folds = 2

Area after 2 folds = 23.375 inch²
Area of the resulting rectangle = 23.375 inch²