John’s Lawn Care Services is a perfectly competitive firm that currently mows 20 lawns a week. John’s short-run marginal cost is higher than the price he charges and increasing. John will increase his profit if he …… ?
Select ONE answer:
- charges a lower price.
- moves more than 20 lawns a week.
- moves fewer than 20 lawns a week.
- charges a higher price.
Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This multiple choice question is suitable for Economics KS5 classes.
The answer is 3
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