Use the Following to Answer Questions

question 232

Multiple Choice

Use the following to answer questions:
-(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. Assume that costs are constant in each interval; that is, the variable cost of mowing 1 through 10 lawns is $100. 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 $60, how many lawns will Alex mow?

• A) 0
• B) 20
• C) 50
• D) 40

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Definitions:

Vouchers

Certificates or coupons that can be exchanged for goods, services, or discounts, often used in educational and welfare policies.

Compulsory Education

A legal requirement that mandates children to attend school until a certain age or completion of a specific level of education.

Protestant Reformation

A religious movement in the 16th century that led to the creation of Protestantism, challenging the authority and practices of the Roman Catholic Church.

Catholicism

The branch of Christianity led by the Pope in Rome, characterized by its traditions, doctrine, and practice of sacraments.