(Table: Variable Costs for Lawns) Look at the table Variable Costs for Lawns.During the summer Alex runs a lawn-mowing service, and lawn-mowing is a perfectly competitive industry made up of 100 identical firms.The table shows his variable costs for lawn-mowing and the number of lawns mowed.Alex's fixed cost is $1,000 for the mower.His variable costs include fuel, his time, and mower parts.Which of the following is a point on Alex's short-run supply curve?
A.P = $5; Q = 10.
B.P = $10; Q = 100.
C.P = $60; Q = 40.
D.P = $20; Q = 300.
Correct Answer:
Verified
Q257: (Table: Variable Costs for Lawns) Look at
Q258: Q259: (Table: Variable Costs for Lawns) Look at Q260: (Table: Variable Costs for Lawns) Look at Q261: Lawn-mowing service is a perfectly competitive industry.Alex's Q264: Cindy's Nails operates in the perfectly competitive Q281: According to the optimal output rule,profits are Q287: If the Kansas corn market is perfectly Q296: In the short run,the fixed costs of Q319: The short-run industry supply curve is more![]()
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents