Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Ron's Window Washing Service is a small business that operates in the perfectly competitive residential window washing industry in Evanston, Illinois. The short-run total cost of production is STC(Q) = 40 +10Q + 0.1Q2 , where Q is the number of windows washed per day. The corresponding short-run marginal cost function is SMC(Q) = 10 = 0.2Q. The prevailing market price is $20 per window.
a) How many windows should Ron wash to maximize profit?
b) What is Ron's maximum daily profit?
c) Graph SMC, SAC, and the profit-maximizing quantity. On this graph, indicate the maximum daily profit. O
d) What is Ron's short-run supply curve, assuming that all of the $40 per day fixed costs are sunk?
e) What is Ron's short-run supply curve, assuming that if he produces zero output, he can rent or sell his fixed assets and therefore avoid all his fixed costs?
When the price of a standard three bedroom house increases from $150,000 to $160,000 a building company increases its output from 20 houses per year to 21 houses per year. What does the increase in the quantity of housing reveal about the cost of ..
However, this is a short-run analysis where physicians are variable but laboratories are fixed. Suppose that each physician costs $500 per day (for an annual salary of about $175,000) and the daily cost for the laboratory is $1,500 (for rental cos..
Do you think these phenomena are related? Could higher wages and better job opportunities lead to a more capital-intensive way of performing household chores? Explain.
Consider a simultaneous move quantity-setting game with two firms facing a demand curve p = 100 - q. Both firms have marginal cost of 20. Suppose one firm maximizes profit and the other maximizes revenue, but both take into account the other firm'..
What is the annual equivalent value of a geometrically increasing series of payments which has first-year base of $10,000 increasing by 12% per year for 10 years with an interest rate of 6% compounded monthly
Briefly describe what each area represents, separately, keeping in mind the fact that consumer surplus is a measure of how well off consumers are (therefore the change in consumer surplus represents how much better off consumers are). (Hint: Note ..
Given the facts of this case, provide your opinion as to whether Bank of America (BoA) is genuinely sincere about corporate social responsibility (CSR) or if it is merely window dressing. Provide a rationale for your answer.
The state of Connecticut is well known for its almandine garnet. The Almandine Garnet Mine has plans to extract 80 tons over the next two years. The production benefits and costs are: MB = 40 ? 0.1Q MC = 36 + 0.25Q Assume..
Transamerica Visa Credit Card to our policyholders. For those policyholders whose anniversary date has occurred in past six months; an early statement and offering can be done once we have cycled those policyholders with upcoming anniversary date..
A spike in the unemployment rate-the biggest in more than 2 decades-raised new concerns Friday that a weak labor outlook, high oil prices and continuing woes in the housing & credit markets are leading the US economy in to a painful recession.
Britney is very fashionable. When she buys a new dress (D), she also needs to buy a hat (H) to match that dress and vice-versa. So, she views the two goods as perfect complements. The price of a dress is $10, the price of a hat is $6
ABC is considering using the facility for a new training program. It could also rent a building about the same distance from its headquarters for $20,000 a year. A developer has offered ABC $2.5 million for its property.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd