9.9. Rons Window Washing Service is a small business that operates in the perfectly competitive residential window
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9.9. 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
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