|
Output (Concession Stand Items) |
Number of Workers Employed Per Day |
Price of Labor Per Worker Per Day |
Total Variable Cost of Labor |
Total Fixed Costs Per Day |
Total Cost Per Day |
Average Price of Concession Stand Items |
Total Revenue |
Profit |
|
Average Fixed Cost |
|
Marginal Cost |
Marginal Revenue |
|
0 |
0 |
$120 |
0 |
$2,000 |
2000 |
$8.00 |
0 |
-2000 |
0 |
0 |
0 |
0 |
8 |
|
100 |
2 |
$120 |
240 |
$2,000 |
2240 |
$8.00 |
800 |
-1640 |
2.40 |
20 |
22.40 |
2.40 |
8 |
|
400 |
4 |
$120 |
480 |
$2,000 |
2480 |
$8.00 |
3200 |
720 |
1.20 |
5 |
6.20 |
0.80 |
8 |
|
750 |
6 |
$120 |
720 |
$2,000 |
2720 |
$8.00 |
6000 |
3280 |
0.96 |
2.66 |
3.62 |
0.67 |
8 |
|
900 |
8 |
$120 |
960 |
$2,000 |
2960 |
$8.00 |
7200 |
4240 |
1.07 |
2.22 |
3.29 |
1.60 |
8 |
|
1,025 |
10 |
$120 |
1200 |
$2,000 |
3200 |
$8.00 |
8200 |
5000 |
1.17 |
1.95 |
3.12 |
1.92 |
8 |
|
1,125 |
12 |
$120 |
1440 |
$2,000 |
3440 |
$8.00 |
9000 |
5560 |
1.28 |
1.77 |
3.06 |
2.40 |
8 |
|
1,200 |
14 |
$120 |
1680 |
$2,000 |
3680 |
$8.00 |
9600 |
5920 |
1.40 |
1.66 |
3.07 |
3.20 |
8 |
|
1,250 |
16 |
$120 |
1920 |
$2,000 |
3920 |
$8.00 |
10000 |
6080 |
1.54 |
1.60 |
3.14 |
4.80 |
8 |
|
1,280 |
18 |
$120 |
2160 |
$2,000 |
4160 |
$8.00 |
10240 |
6080 |
1.69 |
1.56 |
3.25 |
8 |
8 |
|
1,290 |
20 |
$120 |
2400 |
$2,000 |
4400 |
$8.00 |
10320 |
5920 |
1.86 |
1.55 |
3.41 |
24 |
8 |
|
1,289 |
22 |
$120 |
2640 |
$2,000 |
4640 |
$8.00 |
10312 |
5672 |
2.05 |
1.55 |
3.60 |
-240 |
8 |
|
1,280 |
24 |
$120 |
2880 |
$2,000 |
4880 |
$8.00 |
10240 |
5360 |
1.78 |
1.56 |
3.81 |
-26.67 |
8 |
Question 6: What is the maximum level of profit that can be generated from concession stand items?
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