Do part a b and c only... 4. Sherry runs a dog grooming business. She has rent of $5,000 per month and must have anassistant to work with her to keep things going. The assistant costs $3,500 per month andsupplies cost $1,500 per month. Sherry also has a storage unit where she keeps equipment thatshe might need at a cost of $1,000 per month. What should Sherry do under the followingscenarios? Be sure to show your calculations.a. Sherry has monthly revenue of $8,000b. Sherry has monthly revenue of $5,000c. Sherry decides to shut downd. Of the alternatives presented above, which one presents the best outcome? Explain.

In economics total cost (TC) is the minimum dollar cost of producing some quantity of output. This…

4. Sherry runs a dog grooming business. She has rent of $5,000 per month and must have an assistant to work with her to keep things going. The assistant costs $3,500 per month and supplies cost $1,500 per month. Sherry also has a storage unit where she keeps equipment tha she might need at a cost of $1,000 per month. What should Sherry do under the following scenarios? Be sure to show your calculations. a. Sherry has monthly revenue of $8,000 b. Sherry has monthly revenue of $5,000 c. Sherry decides to shut down d. Of the alternatives presented above, which one presents the best outcome? Explain.

4. Sherry runs a dog grooming business. She has rent of $5,000 per month and must have an assistant to work with her to keep things going. The assistant costs $3,500 per month and supplies cost $1,500 per month. Sherry also has a storage unit where she keeps equipment tha she might need at a cost of $1,000 per month. What should Sherry do under the following scenarios? Be sure to show your calculations. a. Sherry has monthly revenue of $8,000 b. Sherry has monthly revenue of $5,000 c. Sherry decides to shut down d. Of the alternatives presented above, which one presents the best outcome? Explain.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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