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There are three types of dance studios in a competitive market in Des Moines, lowa. Due to the peculiarities of zoning in Des Moines, commercial

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There are three types of dance studios in a competitive market in Des Moines, lowa. Due to the peculiarities of zoning in Des Moines, commercial space can be rented in only three sizes: 1000 square feet, 2000 square feet, and 3000 square feet. For each of the three sizes of dance studios, the information below shows the number of dance lessons that can be given by your full-time dance instructors. lowa labor law requires you to hire people full-time or not at all. For every 1000 square feet of space you rent, the monthly rent is $5,000 and you must sign a one-year lease. The monthly wage for a full time dance instructor is $2,000. These represent all economic costs including the normal profit. 1000 sq. ft. 2000 sq. ft. 3000 sq. ft. Number of Lessons Number of Lessons Number of Lessons Instructors Instructors Instructors WUAWNHO 0 0 0 100 152 YOUAWNHO 123 187 YOUAWNHO 139 193 193 237 263 215 263 319 233 286 366 249 306 407 263 323 430

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