Bungalow bill accounting services, economics homework help

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The Bungalow Bill Accounting Service, LLC uses computer technology and data-entry operators to provide accounting services in a competitive market. The price for each statement is $200.  Total fixed costs are $1500/week.
(10 points)

Data Entry Operators

# of Statements per week

Marginal Product

Total Revenue

0

0.0

1

5.0

2

9.0

3

12.0

4

14.0

5

15.5

6

16.5

7

17.0

How many data entry operators would BBAS, LLC hire at a weekly wage of $250 if Bill were attempting to maximize profits?

Determine the firm’s profits.

Suppose a decrease in demand reduces the market price to $150 per statement. 

Should Bill stay open in the short run?  Why?

Should Bill return to being a tiger hunter in the long run?  Provide a brief explanation.

 
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