Beth's Lawn Mowing Service is a small business that acts as a price taker [MR =P). The prevailing market price of lawn mowing is $20 per acre. Although Beth can use the family mower for free (but see Problem 8.2), she has other costs given by Total cost = 0.11;2 + lq + 50, Marginal cost = 0.2:} + 10, where q = the number of acres Beth chooses to mow in a week. a. How many acres should Beth choose to mow in order to maximize prot? b. Calculate Beth's maximum weekly prot. c. Graph these results and label Beth's suppiy curve. 8.4. Suppose that a rm faces a demand curve that has a constant elasticity of 2. This demand curve is given by q = 255/132. Suppose also that the firm has a marginal cost curve of the form MC = 0001:; 3.. Graph these demand and marginal cost curves. b. Calculate the marginal revenue curve associated with the demand curve; graph this curve. (Hint: use Equation 8.9 for this part of the problem.) c. At what output level does marginal revenue equal marginal cost