(Table: Variable Costs for Lawns) Look at the Table Variable

question 274

Essay

(Table: Variable Costs for Lawns) Look at the table Variable Costs for Lawns.During the summer Alex runs a lawn-mowing service, and lawn-mowing is a perfectly competitive industry made up of 100 identical firms.The table shows his variable costs for lawn-mowing and the number of lawns mowed.Alex's 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

Interpret the role of geographical and climate-related factors in species diversity.

Identify the effects of environmental changes on regional climates and ecosystems.

Distinguish between ecological studies and environmental advocacy.

Understand the mechanisms behind oceanic and atmospheric phenomena influencing ecology.

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Definitions:

Bushels

A measure of volume used primarily for agricultural commodities, varying in size depending on the product measured.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to sell, holding other factors constant.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded, typically downward sloping.

Milk Suppliers

Entities involved in the production and distribution of milk and milk-related products to consumers and businesses.