Use the Following to Answer Question

question 197

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 $40,how much is Alex's profit at the profit-maximizing output?

• A)-$10
• B)-$300
• C)$300
• D)-$1,000

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Definitions:

Standing

The legal right to initiate a lawsuit, requiring that the party has sufficient connection to and harm from the law or action challenged to support their participation in the case.

Plaintiff

The individual or entity who initiates a lawsuit seeking legal remedy for an injury or injustice.

Justices

Judges serving on a supreme court or high-level judicial panel who are responsible for making decisions in legal cases.

Cross-Examination

The process in a trial where the opposition lawyer questions a witness that has already been examined by the other party's lawyer to challenge their testimony or credibility.