pt 2.Andrea’s Day Spa began to offer a
relaxing aromatherapy treatment. The firm asks you how much to charge to
maximize profits. The first two columns in Table 10.5 provide the price
and quantity for the demand curve for treatments. The third column
shows its total costs. For each level of output, calculate total
revenue, marginal revenue, average cost, and marginal cost and show
these in a table. What is the profit-maximizing level of output for the
treatments and how much will the firm earn in profits? Explain.
pt1.
Answer the following questions. Please rewrite the questions and
write in complete sentences and paragraphs. Remember that economics is a
science and that we are concerned with describing what, how, and why
behaviors occur, therefore it should be detailed enough to clearly
convey the economic concepts, using the appropriate terminology. You
should apply the material from this module and chapter and not the
internet.
- How would you define income inequality and describe two different ways of how it is measured ?
- What has happened to income inequality in the United States since
the end of the Second World War in 1945 and what evidence can you
provide to support your answer? - Describe at least three reasons for the changes in income inequality since 1945.
Strong Suggestion: View the documentary, Inequality for All.
I have attached a graphics package that is associated with documentary
and that will be helpful with the completion of your assignment.
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