a. Find total revenues and marginal revenues for each of the quantities.b. What quantity of CDs would maximize profit? What would the price be?2.) Charlies's lawn-mowing service is a profit-maximizing.competitive firm. Bob mowslawns for $27 each. His total cost each day is $280, of which $30 is a fixed cost. Hemows 10 lawns a day. What can you say about Charlies's short-run decision regardingshutdown and his long-run decision regarding exit?

Given The market price for lawn-mowing P=$27 Bob mows 10 lawns per day His daily cost TC = $280…

a. Find total revenues and marginal r b. What quantity of CDs would maximize profit? V 2.) Charlies's lawn-mowing service is a profit-maximizing.competitive firm. I lawns for $27 each. His total cost each day is $280, of which $30 is a fixed cost. He mows 10 lawns a day. What can you say about Charlies's short-run decision regarding shutdown and his long-run decision regarding exit?

a. Find total revenues and marginal r b. What quantity of CDs would maximize profit? V 2.) Charlies's lawn-mowing service is a profit-maximizing.competitive firm. I lawns for $27 each. His total cost each day is $280, of which $30 is a fixed cost. He mows 10 lawns a day. What can you say about Charlies's short-run decision regarding shutdown and his long-run decision regarding exit?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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