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 18:20

Uppose the book-printing industry is competitive and begins in a long-run equilibrium. then hi-tech printing company invents a new process that sharply reduces the cost of printing books. suppose hi-tech's patent prevents other firms from using the new technology. which of the following statements are true about what happens in the short run? check all that apply. hi-tech's average-total-cost curve shifts downward. hi-tech's profits increase. the price of books remains the same. hi-tech's marginal-cost curve remains the same.

Answers: 1

Answer

Business, 22.06.2019 18:10

Consumers who participate in the sharing economy seem willing to interact with total strangers. despite safety and privacy concerns, what do you think is the long-term outlook for this change in the way we think about interacting with people whom we don't know? how can businesses to diminish worries some people may have about these practices?

Answers: 1

Answer

Business, 22.06.2019 21:30

Which of the following is one of the five fundamental questions? which products will be in scarce supply and which in excess supply? who should appoint the head of the central bank? how much should society save? correct what goods and services will be produced?

Answers: 1

Answer

Business, 23.06.2019 02:30

On december 1, 2017, bigham corporation pays a dividend of $4.00 on each share of its common stock. vanessa and gena, two unrelated shareholders, each own 5,000 shares of the stock. vanessa has owned her stock for two years while gena purchased her stock on november 3, 2017. how does each shareholder treat the $20,000 dividend from bigham

Answers: 3

Answer

You know the right answer?

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

Questions