Suppose Sharon gives haircuts on Saturdays to make extra money. She is the only person in town cutting hair on Saturdays, so she has some market power. Assume that she does not incur fixed costs and that the only significant variable cost to Sharon in giving haircuts is her time. As she gives more haircuts, Sharon must increasingly forgo other valuable Saturday activities. For example, if she gives one haircut, she forgoes reading the paper after breakfast. If she gives two haircuts, she gives up reading the paper, sleeping an extra half-hour, and so on. Sharon's clients are a varied group willing to pay between $20.00 and $28.00 for a haircut. Assume that Sharon cannot price discriminate-that is, charge different clients different prices. If Sharon charges $28.00 per haircut, she will have one client per week; if she charges $26.00, she will have two; if she charges $24.00, three, and so forth. The following table contains data on the revenues and costs of Sharon's haircut business as a function of her price-quantity choice. (The costs are based on the value of Sharon's alternative activities, in dollar terms. For example, the total cost of the first haircut is $4-the value Sharon places on reading the newspaper after breakfast.) Also, marginal profit is the additional profit Sharon earns from producing one more unit of output. Marginal profit is positive when a rise in output increases total profit and negative when a rise in output causes total profit to fall. Fill in the missing cells of the table and then use them to answer the questions that follow. Total Marginal Output Price Revenue Revenue Total Cost Marginal Cost Profit Marginal Profit (Dollars (Haircuts per week) (Dollars per week) (Dollars per haircut) (Dollars per week) (Dollars per haircut) (Dollars per week) (Dollars per haircut) per haircut) 28.00 4.00 24.00 1 28.00 28.00 4.00 24.00 24.00 4.00 20.00 2 26.00 52.00 8.00 44.00 20.00 8.00 12.00 3 24.00 72.00 16.00 56.00 4 22.00 28.00 12.00 24.00 -12.00 5 20.00 100.00 52.00 48.00