Business, 04.04.2020 06:16 santiagohgonzales

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 the profit?
b. What is Ron's maximum daily profit?
c. What is Ron's short-run supply curve, assuming that all of the $40 per day fixed costs are sunk?

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 13:40

Which statement best defines a grant? a grant is an educational plan in which students alternate between studying for school and gaining work experience. a grant is a loan offered to students to pay for education-related expenses. a grant is money given by an organization for a specific purpose. a grant is a loan offered to anyone who is thinking about attending college.

Answers: 1

Answer

Business, 21.06.2019 16:10

Baldwin has negotiated a new labor contract for the next round that will affect the cost for their product bold. labor costs will go from $7.91 to $8.41 per unit. in addition, their material costs have fallen from $13.66 to $12.66. assume all period costs as reported on baldwin's income statement remain the same. if baldwin were to pass on half the new costs of labor and half the savings in materials to customers by adjusting the price of their product, how many units of product bold would need to be sold next round to break even on the product?

Answers: 2

Answer

Business, 21.06.2019 21:00

Sheldon has the following year-end account balances: accounts receivable, $5,000; supplies, $12,000; equipment, $18,000; accounts payable, $17,000; stockholders’ equity, $43,000. the cash account balance was not available at year-end. given the account balances listed, the balance in the cash account should be?

Answers: 2

Answer

Business, 21.06.2019 23:30

Which term refers to the cost that motivates an economic decision

Answers: 1

Answer

You know the right answer?

Ron’s Window Washing Service is a small business that operates in the perfectly competitive resident...

Questions