Learning Goal: I’m working on a micro economics report and need support to help me learn.USE TEMPLATEPLEASE DO NOT ACCEPT IF YOU DO NOT KNOWInstructionsTracy, 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 1Complete 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 2Answer the questions after the table as a guide to use when writing your essay.Part 3Write an essay of at least 750 words.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 essay (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.Unit V AssignmentCriteriaAchievement LevelLevel 1Level 2Level 3Level 4Level 5Content(35 points)0 – 20Content is often irrelevant; information may be noticeably incorrect and/or off-topic.21 – 24Content is somewhat relevant and informative; may stray off topic a few times.25 – 27Content is mostly relevant and informative; may stray off topic one or two times.28 – 31Content is relevant and informative; may stray slightly off topic one time.32 – 35Content is highly relevant and informative; remains on topic.Tasks(20 points)0 – 11The assigned tasks may be mostly incomplete or poorly done.12 – 13A few areas of the assigned tasks may be missing; completed tasks may need work.14 – 15Some areas of the assigned tasks may be missing or incomplete; completed tasks are fairly well done.16 – 17Most or all areas of the assigned tasks are addressed and competently completed.18 – 20All areas of the assigned tasks are addressed and proficiently completed.Accuracy(25 points)0 – 14Most of the assignment is clearly inaccurate and lacks attention to detail.15 – 17Several areas of the assignment may be slightly lacking in accuracy and/or attention to detail.18 – 19Most of the assignment is fairly accurate and shows fair attention to detail.20 – 22Most of the assignment is accurate and shows good attention to detail.23 – 25Accuracy is excellent and close attention to detail is clearly evident in all parts of the assignment.Writing Mechanics(10 points)0 – 5Writing lacks clarity and conciseness. May have several serious problems with sentence structure and grammar. Numerous major or minor errors in punctuation and/or spelling.6 – 6Writing lacks clarity and/or conciseness. May have minor problems with sentence structure and some grammatical errors, as well as several minor errors in punctuation and/or spelling.7 – 7Writing is somewhat clear and concise. Sentence structure and grammar are fairly strong and mostly correct. Few minor errors in punctuation and/or spelling.8 – 8Writing is mostly clear and concise. Sentence structure and grammar are strong and mostly correct. Few minor errors in punctuation and/or spelling.9 – 10Writing is clear and concise. Sentence structure and grammar are excellent. Correct use of punctuation. No spelling errors.Citations and References(10 points)0 – 5Reference entries and in-text citations follow APA guidelines, but many errors are present. Several in-text citations do not have references and vice versa.6 – 6Reference entries may somewhat follow APA guidelines; several major errors in in-text citations or references may be present. Some in-text citations do not have references and vice versa.7 – 7Reference entries and in-text citations show effort to follow APA guidelines; several errors in in-text citations or references may be present. Most in-text citations are referenced and vice versa.8 – 8Reference entries and in-text citations follow APA guidelines fairly well and are usually correct. All in-text citations are referenced and vice versa.9 – 10Reference entries and in-text citations follow APA guidelines and are free of errors. All in-text citations are referenced and vice versa.Close
Requirements: see above
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