A hair salon, has very loyal customers and faces a weekly demand for blowouts equal to qD = 1,040 – 20P. The salon has weekly total cost of TC(q)=0.05q2+20q+500. a) Ia diagram, draw the hair salon demand curve (PD). b) Write Drybar’s revenue as a function of the firm’s quantity. c) Compute the expression of the hair salons Marginal Revenue and draw the MR curve in your
A hair salon, has very loyal customers and faces a weekly demand for blowouts equal to qD = 1,040 – 20P. The salon has weekly total cost of TC(q)=0.05q2+20q+500. a) Ia diagram, draw the hair salon demand curve (PD). b) Write Drybar’s revenue as a function of the firm’s quantity. c) Compute the expression of the hair salons Marginal Revenue and draw the MR curve in your
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A hair salon, has very loyal customers and faces a weekly demand for blowouts equal to qD = 1,040 – 20P.
The salon has weekly total cost of TC(q)=0.05q2+20q+500.
a) Ia diagram, draw the hair salon demand curve (PD).
b) Write Drybar’s revenue as a function of the firm’s quantity.
c) Compute the expression of the hair salons Marginal Revenue and draw the MR curve in your
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