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 Krystal's marginal benefit of staying open per hour is $18. If she is following the marginal principle, how many hours should Krystal stay open?
A. 3 hours
B. 4 hours
C. 6 hours
D. 7 hours
Answer: A
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A) The level of unemployment will rise, but the percentage of the labor force unemployed will not change. B) The unemployment rate will fall. C) The unemployment rate will rise. D) None of the above will occur.
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When sellers have more information about products than buyers do, we would expect
A) sellers to get higher prices for their goods than they could otherwise. B) buyers to pay lower prices for goods than they would otherwise. C) high-quality goods to drive low-quality goods out of the market. D) low-quality goods to drive high-quality goods out of the market.
With the adoption of the U.S. Constitution in 1787,
a. importation of slaves was made illegal. a. importation of slaves was allowed, but only for the next 20 years. b. importation of slaves from the Caribbean was prohibited, but importation of African slaves was allowed. c. importation of slaves was allowed only on federally-approved vessels that met minimum crew sizes.