Unit iv | Business & Finance homework help

 Ruby Red Movie Theater has experimented  with using different numbers of workers in the concession area of the  theater as well as at the ticket counter. In these experiments, Tracy,  the manager of the theater, collected data on total number of buckets of  popcorn as well as movie ticket sales produced per day.  Tracy would like for you to analyze  the data and tell her how many workers she should use each day in the  concession stand area for producing popcorn and in the ticket area for  producing movie ticket sales. She would also like to know how many  buckets of popcorn and movie tickets will be produced/sold by those  workers per day. Access the Unit IV Assignment Worksheet in Blackboard. You will complete the following in this worksheet: 

Part 1

Complete the tables  calculating the average product, marginal product, total value product,  average value product, and marginal value product.     

Part 2

Answer the five questions after each table as a guide to use when writing your blurb.     

Part 3

Write a blurb of at least 750 words in which you address the following:     

  • Describe your calculations in the table.
  • Indicate the number of workers used per day where the law of  diminishing marginal returns begins for producing buckets of popcorn.
  • Indicate the number of workers used per day where the law of  diminishing marginal returns begins for movie ticket sales production.
  • Describe the shapes of both the average product and marginal  product curves, and include how they compare to the average value  product and marginal value product curves for both buckets of popcorn  and movie tickets.
  • Indicate the optimal number of workers per day to use and the  corresponding total number of buckets of popcorn to produce. Make sure  you indicate how you found this optimal number of workers and total  number of buckets of popcorn.
  • Indicate the optimal number of workers per day to use and the  corresponding total number of movie tickets to sell (produce). Make sure  you indicate how you determined this optimal number of workers and  total number of movie tickets.

Include a copy of the completed tables  and your question answers from the worksheet after your blurb (e.g., on  the page following your reference page, if you have one). The minimum  word count will not include the information from the worksheet (tables  and answers). Any 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.