Use the Following to Answer Question

question 103

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 $70,how much is Alex's profit at the profit-maximizing output?

• A)$3,500
• B)-$300
• C)$700
• D)$1,700

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Definitions:

Ignition Coil

A component of the ignition system in vehicles that transforms low voltage into the high voltage required to spark the spark plugs.

Circuit Paths

The routes along which electrical current flows within a circuit, connecting components such as switches, batteries, and loads like lights or motors.

Series-Parallel

A circuit configuration in which components are connected in a mixture of series and parallel arrangements to modify the total resistance and current flow.

Braided Copper Wire

A type of electrical conductor made of intertwined strands of copper wire, known for its flexibility and conductivity.