Posted: January 6th, 2022

Unit v assignment | Business & Finance homework help

 

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Instructions

Tracy, the manager at Ruby Red Movie  Theater, is extremely worried about concession stand sales. Tracy has  indicated that she is at a loss regarding how many employees should be  working in the concession stand area and how many concession stand items  should be sold per day. Tracy is even considering closing the  concession stand area.  Output, labor, and price information  for items sold in the concession stand area have been provided in the  Unit V Assignment Worksheet. Your assignment is to help Tracy figure out  the optimal number of workers and the number of items that should be  sold daily. Let’s keep the concession stand open!  Access the Unit V Assignment Worksheet in Blackboard.  Complete the following in the Unit V Assignment Worksheet. 

Part 1

Complete the table,  calculating the total variable cost of labor, total cost per day, total  revenue, profit, average variable cost, average fixed cost, average  total cost, marginal cost, and marginal revenue.     

Part 2

Answer the questions after the table as a guide to use when writing your document.     

Part 3

Write a document of at least 750 words.      

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  • Briefly describe the calculations you made when filling in the table data.
  • Indicate the profit-maximizing level of output and employees  along with the two ways you found this optimal level. This  profit-maximizing level of output and employees will tell you how to  keep the concession stand open.
  • Describe the average price level for concession stand items that  would be required to force the theater to shut down the concession  stand in the short run, and include how you determined this level. 

Include a copy of the completed table  and your answers to the questions in the worksheet after your document  (e.g., on the page following your reference page, if you have one). The  word count will not include the information in the table. All sources used, including the  textbook, must be referenced; paraphrased and quoted material must have  accompanying citations. All references and citations used must be in APA  Style.  

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