Use the Following to Answer Question

question 51

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 per unit at the profit-maximizing output?

• A)-$10
• B)$10
• C)$34
• D)$14

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Definitions:

Metamorphic History

The geological history of a rock that has undergone transformation by heat, pressure, or chemically active fluids.

Temperature-Pressure History

The record of variations in temperature and pressure that a geological body has experienced over time, crucial for understanding metamorphic processes and the conditions of mineral formation.

Shortened

The term shortened in a geological sense refers to a reduction in the horizontal extent of the Earth's crust, often resulting from tectonic processes such as mountain building (orogeny).

Vertical Direction

An orientation that is perpendicular to the horizon, pointing up or down from the observer's perspective.