Question: ( T a b l e : Variable Costs for Pool Cleaning ) Use Table: Variable Costs for Pool Cleaning. During the summer, Elijah runs

(Table: Variable Costs for Pool Cleaning) Use Table: Variable Costs for Pool Cleaning. During the summer, Elijah runs a pool cleaning service, and pool cleaning is a perfectly competitive industry. Assume
that costs are constant in each interval; so, for example, the marginal cost of cleaning each pool from 1 through 10is $10. Also assume that he can only clean the quantities of pools given in the table (and
not numbers in between). His only fixed cost is $1,000 for the pool cleaning equipment. His variable costs include fuel, his time, and other everyday pool supplies. Which point falls on Elijah's short-run
supply curve?
a.P=$20,Q=300
b.P=$60,Q=40
c.P=$10,Q=100
d.P=$5,Q=10
( T a b l e : Variable Costs for Pool Cleaning )

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!