Use the Following to Answer Question

question 188

Multiple Choice

Use the following to answer question:
-(Table: Variable Costs for Lawns) Use Table: Variable Costs for Lawns.During the summer,Alex runs a lawn-mowing service,and lawn-mowing is a perfectly competitive industry.Assume that costs are constant in each interval;so,for example,the marginal cost of mowing each of the lawns from 1 through 10 is $10.Also assume that he can only mow the quantities of lawn given in the table (and not numbers in between) .His only fixed cost is $1,000 for the mower.His variable costs include fuel,his time,and mower parts.If the price for mowing a lawn is $60,how much is Alex's profit at the profit-maximizing output?

• A)$10
• B)$2,400
• C)$300
• D)$2,100

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Definitions:

Comparison Group

A group in a study that does not receive the experimental treatment and is used as a benchmark to measure the effect of the treatment.

Cross-Sequential Design

A research design that combines both cross-sectional and longitudinal methods to study how individuals of different ages change over time.

Surveys

Surveys are research methods that collect data from a predetermined group of respondents to gain information and insights on various subjects.

Evolutionary Theory

A scientific theory that proposes species change over time through processes like natural selection and genetic drift, explaining the diversity of life on Earth.