Business, 27.06.2019 11:50 jesussanchez1445
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. 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?
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