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:

Socioemotional Adjustment

The process of adapting emotionally and socially in various life contexts, influencing one's overall well-being and relationships.

Confounded

Being confused or bewildered by a situation, or in research, a variable that obscures the effects of the variable of interest because it is intertwined with it.

Piaget's Stage

Phases in child development outlined by Jean Piaget, focusing on cognitive processes and how they evolve as the child grows.

Formal Operations

The stage of cognitive development, according to Piaget, where individuals develop the ability to think abstractly, logically, and systematically.