Question: 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

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 10 is $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? . P = $5, Q = 10 b. P = $10, Q = 100 c. P = $60, Q = 40 d. P = $20, Q = 300

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!

Use the table below. 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...

Variable Costs for Garden Maintenance. During the summer, Emma runs a gardening service in a perfectly competitive industry. Assume that costs are constant in each interval; so, for example, the...

Please explain and answer the questions below Question 11 (5 points) Listen (Table: Eva's Orange Grove) Use Table: Eva's Orange Grove. Eva is the price-taking owner of an orange grove. Her farm has...

(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....

( T a b l e : Variable Costs for Pool Cleaning ) Use Table: Variable Costs for Pool Cleaning. During the summer, Elijah runs a pool cleaning service, and pool cleaning i s a perfectly competitive...

( Table: Variable Costs for Pool Cleaning ) Use Table: Variable Costs for Pool Cleaning. During the summe Elijah runs a pool cleaning service, and pool cleaning is a perfectly competitive industry....

During the summer, Adrianna runs a pool cleaning service. Given that pool cleaning is a perfectly competitive industry, in the short run, Adrianna will shut down if: a) total revenue does not cover...

Question 1 (5 points) ) Listen The curve shows how the quantity supplied by an industry depends on the market price, given a fixed number of producers. O a) critical analysis (b) long-run industry...

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...

The following are data regarding last years production of Dicer Ricer, one of the major products of Kitchen Gadget Company: Purchases of direct materials . . . . . . . . . . . . . . . . . . . . . ....

What are the major lessor groups in the United States? What advantage does a captive have in a leasing arrangement?

Contactless debit cards are replacing standard debit cards. Some countries are introducing contactless debit card transactions at ATM machines. Give three disadvantages to the customer of using these...

6. Cynthia Knott's oyster bar buys fresh Louisiana oysters for $5 per pound and Qells them for $ 9 per pound. Any oysters not sold that day are sold to her cousin, who has a nearby grocery store, for...

4. In what way is a values system crucial to a communication process?

3. How can rumours about someone contribute to creating the behaviour we expect him / her to have? Use examples from your own everyday life.

2. How can the expectations we have of a person contribute to the image we have of him / her? Give some examples from your own everyday life.