Use the Following to Answer Question

question 11

Multiple Choice

Use the following to answer question:
-(Table: Variable Costs for Lots) Use Table: Variable Costs for Lots.During the winter,Alexa runs a snow-clearing service in a perfectly competitive industry,which is made up of 50 identical firms.Assume that costs are constant in each interval;so,for example,the marginal cost of clearing each of the lots from 1 through 10 is $20.Also assume that she can only plow the quantities of the lots given in the table (and not numbers in between) .Her only fixed cost is $1,000 for a snowplow.Her variable costs include fuel,her time,and hot coffee.Which point falls on the industry short-run supply curve?

• A)P = $40,Q = 60
• B)P = $10,Q = 10,000
• C)P = $25,Q = 2,000
• D)P = $25,Q = 40

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Definitions:

Socialization

The process by which individuals learn and internalize the values, beliefs, and norms of their culture, contributing to their development as societal members.

Voluntary

Actions, behaviors, or associations that are undertaken willingly and without coercion.

Age Differentiation

The process of categorizing and treating individuals differently based on their age, often leading to stereotyping and discrimination, especially in the workplace or in marketing.

Functional Theory

A sociological perspective that emphasizes the social functions of institutions and practices and how they contribute to the stability and cohesion of society.