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 $40, how much is Alex's total cost at the profit-maximizing output?
Definitions:
Long-Term Note Payable
A loan or debt with a repayment period that extends beyond one year, often used for significant business investments.
Mortgage Payable
A long-term liability representing borrowed funds secured by the pledge of property, to be repaid within a specified period.
Installment Payment
A method of paying for goods or services over a period of time in regular, scheduled payments.
Straight-Line Method
A depreciation method that allocates an equal amount of depreciation each year over the useful life of the asset.
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