(Table: Variable Costs for Lots) Look at the table Variable Costs for Lots.During the winter, Alexa runs a snow-clearing service, and snow clearing is a perfectly competitive industry, which is made up of 50 identical firms.The table provided shows her variable costs for snow clearing and number of lots cleared.Her only fixed cost is $1,000 for a snowplow.Her variable costs include fuel, her time, and hot coffee.Which of the following is a point on the industry short-run supply curve?
A.P = $40; Q = 60.
B.P = $10; Q = 10,000.
C.P = $35; Q = 2,500.
D.P = $25; Q = 40.

Question

Quizplus · Accepted Answer

The Answer of (Table: Variable Costs for Lots) Look at the table Variable Costs for Lots.During the winter, Alexa runs a snow-clearing service, and snow clearing is a perfectly competitive industry, which is made up of 50 identical firms.The table provided shows her variable costs for snow clearing and number of lots cleared.Her only fixed cost is $1,000 for a snowplow.Her variable costs include fuel, her time, and hot coffee.Which of the following is a point on the industry short-run supply curve?
A.P = $40; Q = 60.
B.P = $10; Q = 10,000.
C.P = $35; Q = 2,500.
D.P = $25; Q = 40.

(Table: Variable Costs for Lots) Look at the Table Variable