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Jill's Lawn Mowing Service is a small business that acts as a price taker. The prevailing market price of lawn mowing is $16 per acre
Jill's Lawn Mowing Service is a small business that acts as a price taker. The prevailing marketprice of lawn mowing is $16 per acre. Jill's costs are given by (where q represents number of lawns mowed):
TC = 0.1q2+ 10q + 100
MC = 0.2q + 10
In the short run, Jill's profits are _____ and Jill should _____.
a.positive; stay in business
b.positive; shut down
c.negative; stay in business
d.negative; shut down
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