Suppose that you can schedule a worker for up to 10 hours per day. The total benefit and total cost functions are B(H) = 1200 × ?H and C(H) = 200H. The corresponding formulas for marginal benefit and marginal cost are MB(H) = 600/?H and MC(H) = 200. How many hours should you schedule the worker?
A. 9 hours
B. 8 hours
C. 4 hours
D. 0 hours
A. 9 hours
You might also like to view...
Suppose that the following table represents all of the possible investments in the economy. If the nominal interest rate is six percent, what is the total amount of investment in the economy? (Note: The Returns are for one period later.)
Investment Cost Returns A $100 $105 B 300 321 C 200 216 D 50 55 E 400 416
The value of marginal product equals marginal product
A) multiplied by the quantity of labor. B) divided by the quantity of labor. C) multiplied by the good's market price. D) divided by the good's market price.
If Mario's pizza states that it will meet any competitor's price on a 12 inch, one topping pizza, this is an example of ________.
A) a high barrier to entry B) a preannouncement C) price leadership D) a meet-the-competition clause
A _________ card is an instruction to the user’s bank to transfer money directly and immediately from your bank account to the seller.
a. smart b. debit c. credit d. money