Profit Maximization Assignment | Homework For You
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?
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