Use the Following to Answer Question

question 245

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 many lawns will Alex mow?

• A)20
• B)30
• C)40
• D)50

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Definitions:

Car Wash

A facility or service where vehicles are cleaned and detailed, either manually or through an automated process.

Liability

The state of being legally responsible for something, especially in terms of debts or legal obligations.

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Property in the form of jewelry that has been taken without permission or legal right.

Bailor

The person who temporarily transfers possession but not ownership of a property or good to another (the bailee) under a bailment agreement.