Advise jerry regarding the long-run decision to produce

Assignment Help Econometrics

Reference no: EM13232235

Jerry is operating at his level of output, which maximizes profit. He can change locks for 20 different customers per day and charges each customer $35 for each lock. His total cost of changing locks is $800 and his fixed cost is $160.

show the formula and the calculation as well as the final answer.

a. What is the marginal cost for Jerry? Explain how you arrived at that answer.

b. Calculate profit.

c. Advise Jerry regarding his short-run decision to produce.

d. Advise Jerry regarding his long-run decision to produce.

Reference no: EM13232235

Questions Cloud

How much should the store charge for membership : A local video store estimates their average customer's demand per year is Q = 20 - 4P, and knows the marginal cost of each rental is $1.00. How much should the store charge for an annual membership in order to extract consumer surplus

Discusses the complexity of the issue related to management : Discusses the complexity of the issue related to management of health care personnel; concerns from an employee perspective; concerns from a leadershsip perspective.

Write recursivemethod returns true if linked list is sorted : public static boolean isSorted Write a recursive method that returns true if a linked list is sorted (nondecreasing) order and returns false otherwise. An empty list is considered to be sorted.

Which of the follwing could not be used as a fire wall : Which of the follwing could not be used as a fire wall?

Advise jerry regarding the long-run decision to produce : Jerry is operating at his level of output, which maximizes profit. He can change locks for 20 different customers per day and charges each customer $35 for each lock. His total cost of changing locks is $800 and his fixed cost is $160.

What kind of intermolecular forces are present in each sub : Draw a Lewis structure for each molecule and determine its molecular geometry. What kind of intermolecular forces are present in each substance?

Name 3 factors that a router must consider : Name 3 factors that a router must consider when determining the best path for data between two points on a network?

State the chemistry behind ascorbic acid problem : Determine the [H3O+] and pH of each of the following solutions at about room temperature. Be certain to show the chemistry behind each problem.

Introduction to operations and supply chain management : Explain the problem faced by Gulf Creative Ideas from an Operations Management point of view. Use the knowledge you acquired in this course and not the words of the case.

User Account

All Pages