Solved

Table 302 Table 302 Shows How Many Hairstyling Appointments a Hair Salon Can

Question 113

Multiple Choice

Table 30.2  Nurrber of  stylists (per  week)   Total output  (per week)   Marginal  physical  product  (output per  stylist)   Total revenue  (dollars per  week)   Marginal revenue  product (dollars  per stylist)  0 c 16t28039d494\begin{array} { | c | c | c | c | c | } \hline \begin{array} { c } \text { Nurrber of } \\\text { stylists (per } \\\text { week) }\end{array} & \begin{array} { c } \text { Total output } \\\text { (per week) }\end{array} & \begin{array} { c } \text { Marginal } \\\text { physical } \\\text { product } \\\text { (output per } \\\text { stylist) }\end{array} & \begin{array} { c } \text { Total revenue } \\\text { (dollars per } \\\text { week) }\end{array} & \begin{array} { c } \text { Marginal revenue } \\\text { product (dollars } \\\text { per stylist) }\end{array} \\\hline 0 & \text { c } & \ldots & & \ldots \\\hline 1 & 6 t & & \\\hline 2 & 80 & & \\\hline 3 & 9 d & & \\\hline 4 & 94 & & \\\hline\end{array} Table 30.2 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 hair stylists,total revenue,and marginal revenue product of the stylists,assuming that a hair stylist charges $60 per appointment.In Table 30.2,as more stylists are hired,


A) There are diminishing returns.
B) There are economies of scale.
C) There are diseconomies of scale.
D) MRP increases.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions