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?

Consider the following scenarios. use what you have learned to decide if the goods and services being provided are individual, public, or merit goods. for each case, state what kind of good has been described and explain your answer using the definitions of individual, public, and merit goods. (6 points each) 1. from your window, you can see a city block that's on fire. you watch city firefighters rescue people and battle the flames to save the buildings. 2. while visiting relatives, you learn that your cousins attend a nearby elementary school that is supported financially by local property tax revenue. 3. you see a squadron of military jets flying overhead. 4. you find out that your aunt works for a defense manufacturing company that has several defense contracts with the government. she tells you that she works for a team that is producing a communications satellite. 5. your class visits a local jail run by a private, profit-making company that detains county criminals and is paid with tax revenue.

Trey morgan is an employee who is paid monthly. for the month of january of the current year, he earned a total of $4,538. the fica tax for social security is 6.2% of the first $118,500 earned each calendar year, and the fica tax rate for medicare is 1.45% of all earnings for both the employee and the employer. the amount of federal income tax withheld from his earnings was $680.70. his net pay for the month is .

Pederson company reported the following: manufacturing costs $480,000 units manufactured 8,000 units sold 7,500 units sold for $90 per unit beginning inventory 2,000 units what is the average manufacturing cost per unit? (round the answer to the nearest dollar.)