Hours of OperationMarginal Cost16212318424530636742Krystal 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 $30. If she is following the marginal principle, how many hours should Krystal stay open?

A. 4 hours
B. 5 hours
C. 6 hours
D. 7 hours


Answer: B

Economics

You might also like to view...

Firms in an oligopoly are said to be interdependent. What does this mean?

What will be an ideal response?

Economics

If a life insurance company does NOT require a medical exam of its policyholders, it is most likely that the company

A) charges above-average premiums. B) charges below-average premiums. C) charges no premiums. D) has only very healthy policyholders.

Economics

Refer to Scenario 7.2. Suppose that you receive an order for 60 earthquake detectors. How much labor will you use to minimize the cost of 60 earthquake detectors?

A) 1 B) 5 C) 10 D) 45 E) none of the above

Economics

 Assume the market in the graph shown with demand D and supply S1 is in equilibrium at a quantity of 5 units. Producer surplus is:

A. $15. B. $10. C. $5. D. $7.50.

Economics