Your family recently began operating a car wash at a beach resort. There are many other car washes at this beach resort. You have observed that the customers care only about finding the cheapest price for car washes; they do not care which company they use. Your family purchased the equipment and the building for the car wash. They spent $1,000 of their savings to go towards this purchase. To cover the rest of this expense, they took out a small business loan. The cost of the loan comes to $15 per day for the next 3 years. The business must hire labor and purchase cleaning solutions, car wax, etc. to operate the car wash. After some research you have figured out that the cost for labor and supplies is as follows:

1. Use the information above to calculate total costs, average variable costs, and average total costs.(Hint: Identify fixed costs. Use fixed costs and variable costs to calculate total costs first.)

Assume the profit-maximizing price for each car wash is equal to marginal cost.

If price drops below average variable cost, the car wash should shut down.

When the beach resort is in-season, you have observed that you can charge a price of $14.00 per car wash. When the resort is off-season, the demand for car washes is much lower. You only able to charge a price of $4.67 per car wash. Right now the resort is in-season. Currently you are selling 17 car washes per day.

2. Using your calculated costs, draw a graph demonstrating the relevant production costs (average variable, total variable and marginal) of your car wash.(Hint: only apply the relevant numbers from your table, don't try to include all numbers.) Clearly label all axes and lines.

3. Your family needs your advice. Provide one recommendation for how your family can improve profits during the in-season and one recommendation of how to increase efficiency in the off-season.

old Question 59 of 75. Travis operates a consulting business. He uses his personal credit card for both business and personal uses. The total finance charges paid for the year were $957. Travis' total business charges on this card were 41% of all charges. What amount of interest expenses can be deducted on Travis' Schedule C? O $957 O $565 $392 10 Mark for follow upA study of the career plans ofyou ng women and men sent questionnaires to all 7'22 members of the senior class of a particular college. ICline question asked which majorwithin the business program the student had chosen. Here are the data from the students who responded: _ _Im -- II II II [a] Describe the differences between the distributions of majors for women and men with percents. (Round your answers to two decimal places] Administration Finance Describe the differences between the distributions of majors for women and men in words. The biggest difference between women and men is in ---Select-- accounting administration economics nance . The field of ---Sele~::t-- accounting administration economics nance was the field most often selected by men. [b] What percent ofthe. students did not res pond to the questionnaire? The non respo rise weakens conclusio ns drawn from these data. {Round your answer to one decimal place} as Moving to another question will save this response. Question 2 Which of the following statement about an annuity due is false? The first cash flow is made on the first day of agreement The last cash flow is made one period before the end of the agreement Cash flows occur at the beginning of each period The first cash flow is made one compounding period after the date of the agreement Moving to another question will save this response.Duestlon 2 [I13 points] The drop in housing values has a wealth effect that most directly affects which component of aggregate deman d\"? Question 2 options: - Government Purchases - Investment _ I w Duestlon 3 {I13 points] The drop in nevir housing construction most directly.r affects which component of aggregate demand? Question 3 options: - Government Purchases