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Q1 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

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Q1 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 free, she has other costs given by Total cost = 0.17 +10q + 50 Marginal cost=0.2q+ 10 a. Fill out the table below. b. Find the profit maximizing out c. Draw AFC, AVC, ATC, MC and MR and show the profit maximizing output. d. Increase the price to 30, repeat a, b and c Show your workings 4 TCFC VC ATC AFC AVC|MC|P|TR|MR

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