(Table: Variable Costs for Lawns) Use Table: Variable Costs for Lawns. During the summer, Alex runs...

 

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(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 $60, how much is Alex's total cost at the profit-maximizing output? Table: Variable Costs for Lawns Quantity Variable Costs of Lawns 0 SO 10 100 20 300 30 500 40 1,100 50 1,800 60 2,900 (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 $60, how much is Alex's total cost at the profit-maximizing output? Table: Variable Costs for Lawns Quantity Variable Costs of Lawns 0 SO 10 100 20 300 30 500 40 1,100 50 1,800 60 2,900

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To find Alexs total cost at the profitmaximizing output we need to identify the quantity of lawns he ... View the full answer