By hiring a second barber at the same wage rate

Assignment Help Business Economics

Reference no: EM13984470

Answer the question on the basis of the following information: Harry owns a barber shop 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.

Refer to the given information. Harry should:

hire the second barber because he will add $28 to profits.

hire the second barber because he will add $108 to profits.

not hire the second barber because he is less productive than the first barber.

not hire the second barber because he will diminish profits.

Reference no: EM13984470

Questions Cloud

What is the principles of parallel algorithm design : What is the Principles of Parallel Algorithm Design and how we can design a algorithm in parallel computing in c language this mean practical work?

Why time lags cause monetary policy to difficult to condut : Which of the following helps to explain why time lags cause monetary policy to be difficult to conduct?

Assume the price of capital doubles : Assume the price of capital doubles and, as a result, firms make no change in the relative quantities of capital and labor they employ. This implies that:

Calculate the firms sales margin : Firm F has ROI of 12.6 &, average total assets of $1,730,159, and turnover of 1.4. Calculate the firm's sales margin, and net income. Round your answers to the nearest whole numbers.

By hiring a second barber at the same wage rate : Answer the question on the basis of the following information: Harry owns a barber shop 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 ..

How easy is to to apply utilitarian hedonistic calculus : What, according to Mill, is greatest happiness principle? Exactly how does he think that principle can be used to determine whether a proposed course of action would be the right or the wrong thing to do? How easy or hard is to to apply the utilit..

Responsibility to dispose of the extrusion machine : Your company has a customer who is shutting down a production line, and it is your responsibility to dispose of the extrusion machine. The company could keep it in inventory for possible future product and estimates that the reservation value is $250..

Write program to compute output of mixcolumns transformation : Using Matlab write a program to compute the output of the MixColumns transformation for the following sequence of input bytes "67 89 AB CD" Apply the InvMixColumns transformation to the obtained result to verify your calculation.

Task of drafting a law to impose a tax on smoke emissions : Suppose you are assigned the task of drafting a law to impose a tax on smoke emissions. What provisions would you put into the law? How would you decide the size of the tax? What would you do about smoke emitted by a municipal electricity plant?

User Account

All Pages