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
You might also like to view...
A shift occurs in the supply curve for salt when:
A. the price of salt increases. B. improvements are made in the production process. C. salt is found to be associated with high blood pressure. D. consumers expect the price of salt to increase in the future.
Which of the following is included in gross private domestic investment?I.The purchase of new capital goodsII.An increase in business inventories
A. I only B. II only C. Both I and II D. Neither I nor II
While many managers and lawyers might claim that implicit contracts "aren't worth the paper that they are not written on," most understandings between companies and their customers and employees are implicit. Why?
What will be an ideal response?
As the amount of a variable input increases, while all other inputs are held constant, total product will
A. always increase. B. initially increase and then decrease. C. initially decrease and then increase. D. always decrease.