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 Multiple Choice not hire the second barber, because she will diminish profits hire the second barber because she will add $108 to profits. hire the second barber because she will add $28 to profits. not hire the second barber, because she is less productive than the first barber
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 Multiple Choice not hire the second barber, because she will diminish profits hire the second barber because she will add $108 to profits. hire the second barber because she will add $28 to profits. not hire the second barber, because she is less productive than the first barber
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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