Question.2281 - This worksheet is intended to help you develop the information you will use to complete your Unit V Essay. You are expected to include the completed table in your Unit V Essay. The additional questions after the tables are intended to help you formulate your ideas concerning what you will write in your essay. Just completing this worksheet does not constitute completing the Unit V Assignment. The information from the worksheet must be incorporated into your essay submission. Follow the instructions below. Instructions: 1. Complete all parts of the Unit V Assignment Worksheet. 2. Answer the questions after the table; these will help you formulate your ideas for writing the essay part of your Unit V Assignment. You are expected to expand on these questions in your writing. 3. Include the tables and your question responses from the Unit V Assignment Worksheet as an appendix following the essay part of your Unit V Assignment.On the next page, you are provided with a table showing the different levels of output for concession stand items that are possible as the number of workers used changes. Also included are the price of labor, the total fixed cost per day, and the average price of concession stand items. Using the information you learned from the textbook for this class as well as the information in the Unit V Lesson: 1. Complete the table below concerning concession stand topics. 2. Answer all of the questions listed below the table. As mentioned, doing this will help you when formulating your thoughts for the essay part of your Unit V assignment.Round These Answers to the Nearest Whole Number Round These Answers to the Nearest PennyOutput (Concession Stand Items)Number of Workers Employed Per DayPrice of Labor Per Worker Per Day Total Variable Cost of LaborTotal Fixed Costs Per Day Total Cost Per Day Average Price of Concessio n Stand ItemsTotal Revenue ProfitAverage Variable Cost Average Fixed Cost Average Total Cost Margina l Cost Margina l Revenue0 0 $120 $2,000 $8.00 100 2 $120 $2,000 $8.00 400 4 $120 $2,000 $8.00 750 6 $120 $2,000 $8.00 900 8 $120 $2,000 $8.00 1,025 10 $120 $2,000 $8.00 1,125 12 $120 $2,000 $8.00 1,200 14 $120 $2,000 $8.00 1,250 16 $120 $2,000 $8.00 1,280 18 $120 $2,000 $8.00 1,290 20 $120 $2,000 $8.00 1,289 22 $120 $2,000 $8.00 1,280 24 $120 $2,000 $8.00Questions: Use your responses to these questions to help you formulate ideas for writing your Unit V Essay. Question 1: What is the level of profit that is made by Ruby Red Movie Theater if 2 workers are employed at the concession stand and only 100 items of output are produced (sold) at the concession stand? Answer:Question 1a: Should Ruby Red Movie Theater continue to operate the concession stand if only 100 concession stand items are being produced (sold) by 2 workers? Why, or why not? Answer:Question 2: If Ruby Red Movie Theater wanted to produce (sell) 1,290 items from the concession stand, would profit be maximized? Why, or why not? Answer:Question 3: At what level of output and labor input are concession stand profits maximized for Ruby Red Movie Theater? What are two ways you could tell if this was correct from the table data? Answer:Question 4: How are average total cost and marginal cost related to marginal product and average product? Answer:Question 5: What do you notice about marginal revenue and the price of output (average price of concession stand items in this case)? Answer:Question 6: What is the maximum level of profit that can be generated from concession stand items? Answer:Next Step: Once you have completed the table and answered questions 1–6 above, your next step will be to write your essay. The information from these questions should be used when writing the essay. See Unit V Assignment instructions.
Answer Below:
This xxxxxxxxx is xxxxxxxx to xxxx you xxxxxxx the xxxxxxxxxxx you xxxx use xx complete xxxx Unit x Essay xxx are xxxxxxxx to xxxxxxx the xxxxxxxxx table xx your xxxx V xxxxx The xxxxxxxxxx questions xxxxx the xxxxxx are xxxxxxxx to xxxx you xxxxxxxxx your xxxxx concerning xxxx you xxxx write xx your xxxxx Just xxxxxxxxxx this xxxxxxxxx does xxx constitute xxxxxxxxxx the xxxx V xxxxxxxxxx The xxxxxxxxxxx from xxx worksheet xxxx be xxxxxxxxxxxx into xxxx essay xxxxxxxxxx Follow xxx instructions xxxxx Instructions xxxxxxxx all xxxxx of xxx Unit x Assignment xxxxxxxxx Answer xxx questions xxxxx the xxxxx these xxxx help xxx formulate xxxx ideas xxx writing xxx essay xxxx of xxxx Unit x Assignment xxx are xxxxxxxx to xxxxxx on xxxxx questions xx your xxxxxxx Include xxx tables xxx your xxxxxxxx responses xxxx the xxxx V xxxxxxxxxx Worksheet xx an xxxxxxxx following xxx essay xxxx of xxxx Unit x Assignment xx the xxxx page xxx are xxxxxxxx with x table xxxxxxx the xxxxxxxxx levels xx output xxx concession xxxxx items xxxx are xxxxxxxx as xxx number xx workers xxxx changes xxxx included xxx the xxxxx of xxxxx the xxxxx fixed xxxx per xxx and xxx average xxxxx of xxxxxxxxxx stand xxxxx Using xxx information xxx learned xxxx the xxxxxxxx for xxxx class xx well xx the xxxxxxxxxxx in xxx Unit x Lesson xxxxxxxx the xxxxx below xxxxxxxxxx concession xxxxx topics xxxxxx all xx the xxxxxxxxx listed xxxxx the xxxxx As xxxxxxxxx doing xxxx will xxxx you xxxx formulating xxxx thoughts xxx the xxxxx part xx your xxxx V xxxxxxxxxx Round xxxxx Answers xx the xxxxxxx Whole xxxxxx Round xxxxx Answers xx the xxxxxxx PennyOutput xxxxxxxxxx Stand xxxxx Number xx Workers xxxxxxxx Per xxxxxxxx of xxxxx Per xxxxxx Per xxx Total xxxxxxxx Cost xx LaborTotal xxxxx Costs xxx Day xxxxx Cost xxx Day xxxxxxx Price xx Concession xxxxx ItemsTotal xxxxxxx ProfitAverage xxxxxxxx Cost xxxxxxx Fixed xxxx Average xxxxx Cost xxxxxxxx Cost xxxxxxxx Revenue xxxxxxxxx Use xxxx responses xx these xxxxxxxxx to xxxx you xxxxxxxxx ideas xxx writing xxxx Unit x Essay xxxxxxxx What xx the xxxxx of xxxxxx that xx made xx Ruby xxx Movie xxxxxxx if xxxxxxx are xxxxxxxx at xxx concession xxxxx and xxxx items xx output xxx produced xxxx at xxx concession xxxxx Answer xx it xx evident xxxx the xxxxx given xxxxx if xxxx Red xxxxx Theater xxxxxxxxx worker xx the xxxxxxxxxx stand xxx only xxxxx of xxxxxx are xxxxxxxx sold xx the xxxxxxxxxx stand xxx loss xx of xxxxxxxx a xxxxxx Ruby xxx Movie xxxxxxx continue xx operate xxx concession xxxxx if xxxx concession xxxxx items xxx being xxxxxxxx sold xx workers xxx or xxx not xxxxxx No xxxx Red xxxxx Theater xxxxxx not xxxxxxxx to xxxxxxx the xxxxxxxxxx stand xx only xxxxxxxxxx stand xxxxx are xxxxx produced xxxx by xxxxxxx as xx results xx a xxxx of xxxxxxxx If xxxx Red xxxxx Theater xxxxxx to xxxxxxx sell xxxxx from xxx concession xxxxx would xxxxxx be xxxxxxxxx Why xx why xxx Answer xx Ruby xxx Movie xxxxxxx wanted xx produce xxxx items xxxx the xxxxxxxxxx stand xxxxx profit xxxxx not xx maximized xx the xxxxxxxx cost xx not xxxxx to xxx marginal xxxxxxx And xxx profit xxxxxxxxxxxx MR xx is xxx basic xxxx Question xx what xxxxx of xxxxxx and xxxxx input xxx concession xxxxx profits xxxxxxxxx for xxxx Red xxxxx Theater xxxx are xxx ways xxx could xxxx if xxxx was xxxxxxx from xxx table xxxx Answer xxx profit xx maximized xx the xxxxxx of xxx workers xxx two xxxx ways xx find xxx the xxxxxx maximization xxx The xxx between xxxxx revenue xxx total xxxx should xx maximum xxx intersection xxxxx of xxxxxxxx Revenue xxx Marginal xxxx Question xxx are xxxxxxx total xxxx and xxxxxxxx cost xxxxxxx to xxxxxxxx product xxx average xxxxxxx Answer xxxxxxx cost xxx marginal xxxx is xxxxxxxxx related xx the xxxxxxx product xxx marginal xxxxxxx When xxx the xxxxxxxxxx rises xx leads xx the xxxx in xxxxxxx Question xxxx do xxx notice xxxxx marginal xxxxxxx and xxx price xx output xxxxxxx price xx concession xxxxx items xx this xxxx Answer xxxxxxxx Revenue xxx price xx the xxxxxx is xxxxx in xxx given xxxxx Question xxxx is xxx maximum xxxxx of xxxxxx that xxx be xxxxxxxxx from xxxxxxxxxx stand xxxxx Answer xxx maximum xxxxx of xxxxxx which xxx be xxxxxxxx is xxxx Step xxxx you xxxx completed xxx table xxx answered xxxxxxxxx ndash xxxxx your xxxx step xxxx be xx write xxxx essay xxx information xxxx these xxxxxxxxx should xx used xxxx writing xxx essay xxx Unit x Assignment xxxxxxxxxxxx In xxxxxxxxx matters xxxxxx maximization xxx be xxxxxxxxx as xxx short xxx or xxxx run xxxxxxx in xxxxx an xxxxxxxxxxx decides xxx cost xxxxx input xxxxxx that xxxxxx the xxxx noteworthy xxxxxxx rates xxx ongoing xxxxxxxx way xx deal xxxxxxxxxxxxxxxxxx generally xxxxxxxxxx alluded xx as xxx neoclassical xxxxxxxxx matters xxxx in xxxxxxx model xxx association xx a xxxxxxxx of xxxxxxxx Zajac xx al xxxxxxx is xxxxx alluded xx as xxx much xxxx that xx held xxxxx all xxxxx are xxxxxxxxx from xxx deals xx concessions xx this xxxxxxxx Marginal xxxxxxx likewise xxxxxxx to xx the xxxxxxxxxx advantage xxx be xxxxxxx to xx the xxxxx complete xxxxxxx that xx gotten xx a xxxxxxxxxxx of x raise xx the xxxxx of xxxxx by xxx extra xxxx During xxx time xxxxx creation xxxxxxxxxx revenue xx fundamental xxxxx it xxxxx associations xxxxxx the xxxx spent xxxxxxxx making xx guarantee xxx expansion xx revenues xxxxxxx dissecting xxxxx expenses xxx revenue xx the xxxxxxxxxx of xxx minor xxxxxxx there xx need xxx analyzing xxx distinctions xxxx exist xxxxxxx the xxxxx benefits xxx by xx association xxxx the xxxxxx of xx item xxxxxxx in xxx last xxxxxx and xxxxxxx period xxxx an xxxxx raise xxxxxxxx rate xxxxxx the xxxx spent xxxxxxxx making xx Ruby xxx cinema xxxxxxxxxx revenue xxx peripheral xxxxxxx are xxxxxxxxxx fundamental xxxx Red xxxxxx is xxxxxxxxxx to xxxx in xxx class xx completely xxxxxxx associations xxxxx an xxxxxxxxx in xxxxxxx produced xxxxxxx the xxxxx of xxxxx unit xx concessions xxxxx out xx be xxxxxxxxxx to xxx value xxx association xxxxxxx the xxxxxxxxxx of xxxxxxxxxx tickets xxxxx et xx This xx the xxxxxxxxx since xxxxxxx business xxxxxxx generally xxxxxxx same xxxxx for xxxxx single xxxx of xxxxx sold xx matter xxxx the xxxxxxxx of xxxxx sold xxxxxxxx that xxx deals xx an xxxxxxxxxxxx is xxxxx never xxxxxx the xxxx of x ware xxxxxxxxxxxx for xxxx situation xx a xxxxxxx serious xxxxxx cost xxxxxx are xxx by xxx associations xx be xxxxxxxxxx to xxx peripheral xxxxxxx in xxxx MR x Higher xxxxx are xxx generally x sign xxxx an xxxxxxxxxxx will xxxxxx higher xxxx edges xxxxxxxx that xx in xxxx way xxxxxxxxxxx benefit xxxxxxxxx happens xxxxxxxxxx expenses xxxxxx be xxxxxxxxxx to xxx marginal xxxxxxx in xxx state xx MR xxxx is xx express xxxx benefit xxxxxxxxx happens xxxx most xxxxxxxxxx benefits xxx recorded xx a xxxxxxxxxx deals xxxxx Mei xx al xxxxxx note xx that xx vital xxxxxxxxxxxxx of xxxxxxxx happens xxxx over xxx long xxxx and xx the xxxxx run xx the xxxxxxxxxxxx inquiries xxxx the xxxxxxxxxx expense xxxxxxx also xxx minor xxxxxxx figures xxx amp x yield xxxxxxx outcomes xx the xxxxxxxx pace xx consequently x sign xxxx there xx no xxxxxxxx of xxxxxxx augmentation xx Ruby xxx cinema xxxx is xxxxxxxx shown xx the xxx that xxx through xxxxxxxxxx benefits xxxxxxxx on xxxxx day xxxx been xxxxxxxxx similar xxxx the xxxx elevated xxxxxxxxx focuses xxxxxxxxxxxx to xx consequently xxx greatest xxxxxx of xxxxxxxx created xxxx the xxxxx bars xxxxxx the xxxxxx of xxxxxxxx there xxx likewise xxxxxxxxxx costs xxxxx allude xx extra xxxxx produced xx Ruby xxx Film xxxxxxx because xx creation xx an xxxxx unit xx snack xxxx Normal xxxxxxx which xxx likewise xx eluded xx as xxx normal xxxxxxxx expense xxxx again xxx be xxxxx by xxx normal xxxxx cost xxx normal xxxxxxxx expense xxx et xx When xxx minor xxxxxxx esteem xx not xxxxxxx the xxxxxx expense xxxxxx then xx that xxxxx there xxxxx that xxx typical xxxxxxx is xxx The xxxxx expense xxxxx to xx high xxxxxxxx the xxxxx of xxx negligible xxxxxxx is xxxxxx than xxxx of xxx typical xxxxxxx A xxxxxxxxx of xxxxxxxxxx where xx AC xxxx is xxxxxxx from xxx above xxxxx where xxxx creation xx units xxxxxxxxxx expense xx not xxxxxxx the xxxxxx expense xx the xxxxxxxx of xxxxxx unit xxxxxxxx cost xxx normal xxxxxxx are xxxxxxxxxx Zajac xx al xxxxx on xxxxxxxxxx expense xxx normal xxxxx are xxxxxxxx to xx same xxxxx the xxxxxxxxx creation xxxx As xxx degree xx creation xxxxxxxxxx Peripheral xxxxxxx and xxxxxx expense xxxx totally xxx starts xx ascend xxxxxxxx in xxx futureIt xx consequently xxxxxxxxx to xxxx note xx that xxx benefit xxxxx capability xx material xx all xxxxxxxxxxxx no xxxxxx what xxx state xx a xxxxxxxxx contest xxxxxxxxxxx infrastructure xxxxxxxxx or xxxx monopolistic xxxxxxx Since xxxxxxxxxxxx experience xx types xx rivalry xx is xxxxxxxxx to xxxx note xx that xxx circumstance xx navigation xxxxxxxxxx differentiates xxxx that xx the xxxxx contest xxxxx associations xxxxxx the xxxxx of xxxxx takers xxx are xx freedom xx selling xxxxxxxxxx amounts xx the xxxx market xxxx References xxx J xx K xxxx Z xx Q xxx amp xx K xxxxxx maximization xxx cloud xxxxxxx in xxxxx computing xxxx Transactions xx Parallel xxx Distributed xxxxxxx - xxxxx E x amp xxx Westphal x D xxxxxxxxxxxxxxxxxxx economics xxx Blackwell xxxxxxxxx to xxxxxxxxxxxxx -More Articles From Economics
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