Hours of OperationMarginal Cost16212318424530636742
Krystal runs a nail salon and needs to decide how many hours to stay open. Table 2.2 illustrates her marginal costs of staying open for each additional hour. Suppose that we observe Krystal staying open 4 hours per day. If she is following the marginal principle, what must her marginal benefit be?
A. $12
B. $18
C. $24
D. $30
Answer: C
You might also like to view...
Xanfix sells wrenches and screwdrivers. It sells both products at the same price of $9.66 per unit. The firm calculates that the income elasticity of demand for wrenches is 1.5, while the income elasticity of demand for screwdrivers is 2.5 . If the overall consumer income is expected to increase by 6.8 percent in the year ahead, the company should: a. increase the production of both products,
but it should increase the production of screwdrivers by a greater amount than the production of wrenches. b. increase the production of both products, but it should increase the production of wrenches by a greater amount than the production of screwdrivers. c. increase the production of wrenches and decrease the production of screwdrivers. d. increase the production of screwdrivers and decrease the production of wrenches.
The capital ratio is the ratio of a bank's
A) assets divided by its liabilities. B) income divided by its assets. C) capital divided by its assets. D) capital divided by its total liabilities.
A company is considering the purchase or the rental of a new machine. An increase in the interest rate
A) increases the likelihood the company will buy the machine. B) increases the likelihood the company will rent the machine. C) has no effect on the likelihood that the company will buy the machine. D) has no effect on the likelihood that the company will rent the machine.
Why is it not efficient to eliminate all pollution?
What will be an ideal response?