Use the following to answer questions: 
-(Table: Variable Costs for Lots) Look at the table Variable Costs for Lots. During the winter, Alexa runs a snow-clearing service in a perfectly competitive industry. Assume that costs are constant in each interval; that is, the variable cost of clearing anywhere from 1 through 10 lots is $200. Her only fixed cost is $1,000 for a snowplow. Her variable costs include fuel, her time, and hot coffee. If the price to clear a lot is $60, how many lots should Alexa clear?
Definitions:
Annual Cash Flows
The total cash that is generated and used by a business in one fiscal year.
Required Rate
This is often referred to as the minimum acceptable return on an investment, set by investors or managers.
Payback
The amount of time it takes for an investment to generate an amount of income or cash flow to recover its initial cost.
Annual Cash Flows
The total amount of money being transferred in and out of a business, measured yearly.
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