Question: What is this whole problem 4. Suppose you are considering opening a Nail Salon and you want to know how many people to hire. You

What is this whole problem

4. Suppose you are considering opening a Nail Salon and you want to know how many people to hire. You visit several nail salons in nearby locations to get an idea of how many sales they have per day. The cost of the salon that you have leased is $300 per day and you will pay each employee $50 per day. Assume that on average the net revenue (revenue - product cost) per sale is $50. (Hint: Think of this as the price per person) Fixed Cost: Variable Cost per Employee: Variable Marginal Total Workers Sales Fixed Cost Total Cost Marginal Profit Cost Cost Revenue Revenue Fill in the Chart. a. How many workers should you hire in order to maximize your profits? b. How much profit will you earn? c. Draw a graph using the table for MR and MC. What do you notice

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