$30.4$ Hairstyling Appointments and Revenues Table 30

question 105

question 105

Multiple Choice

• A) 1.
• B) 2.
• C) 3.
• D) 4.

Number of stylist (per week)	total output(per week)	marginal physical product (output per stylist)	total revenue(dollars per week)	marginal revenue product (dollars per stylist)
0	0	......	$0	........
1	60	______	______	______
2	80	______	______	______
3	90	______	______	______
4	90	______	______	______

Table $30.4$
Hairstyling Appointments and Revenues Table 30.4 shows how many hairstyling appointments a hair salon can schedule per week based on the number of stylists.In the spaces provided, compute the marginal physical product (MPP) of the hairstylists, total revenue, and the marginal revenue product of the stylists, assuming that a hairstylist charges $60 per appointment.In Table 30.4 suppose a hairstylist is paid $700 per week.How many hairstylists should a profit-maximizing salon hire?

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question 105

Multiple Choice

• A) 1.
• B) 2.
• C) 3.
• D) 4.