Multiple Choice
Harry owns a barbershop and charges $6 per haircut. By hiring one barber at $10 per hour, the shop can provide 24 haircuts per eight-hour day. By hiring a second barber at the same wage rate, the shop can now provide a total of 42 haircuts per day. Harry should
A) hire the second barber because she will add $28 to profits.
B) hire the second barber because she will add $108 to profits.
C) not hire the second barber, because she is less productive than the first barber.
D) not hire the second barber, because she will diminish profits.
Correct Answer:

Verified
Correct Answer:
Verified
Q245: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8602/.jpg" alt=" The table is
Q246: How is marginal revenue product reflected in
Q247: Marginal resource cost is<br>A)the increase in variable
Q248: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8602/.jpg" alt=" The table gives
Q249: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8602/.jpg" alt=" The table is
Q251: To maximize profits, a competitive firm will
Q252: Those who advocate the marginal productivity theory
Q253: A firm will employ more of an
Q254: What is the elasticity of resource demand?
Q255: Critics of the marginal productivity theory of