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Profit Maximization Assignment | Homework For You

Author:
February 25th, 2020

John’s Lawn Mowing Service is a small business that acts as a price taker. The prevailing market price of lawn mowing is $20 per acre. He had total cost given by

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TC = 0.1q + 10q + 50,

where q = the number of acres John chooses to mow in a week.

1. how many acres should John choose to mow in order to maximize profit?

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2. what is his MC?

3. calculate John’s maximum weekly profit.

4. graph these results and label John’s supply curve. Get Economics homework help today

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