DeShawn's Detailing is a service that details cars at the customers' homes or places of work. DeShawn's cost for a basic detailing package is $40, and he charges $75 for this service. For a total price of $90, DeShawn will also detail the car's engine, a

service that adds an additional $20 to the total cost of the package. What is the marginal cost of adding the engine detailing to the basic detailing package?

A) $20
B) $30
C) $60
D) $60 plus the value of his time


Answer: A

Economics

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The law of diminishing marginal utility states that marginal utility must diminish after the first unit of consumption of every good or service

a. True b. False Indicate whether the statement is true or false

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When operating at the profit-maximizing/loss-minimizing level of output, total revenue minus total cost is a little under


A. $200.
B. $100.
C. $45.
D. -$45.

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Fractional reserve banking can be thought of as a bank

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Economics