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lstar1993 lstar1993
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Posts: 498
Rep: 25 0
4 years ago
Hours of OperationMarginal Cost
16
212
318
424
530
636
742

Table 2.2


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

▸ 4 hours

▸ 5 hours

▸ 6 hours

▸ 7 hours
Textbook 
Microeconomics: Principles, Applications, and Tools

Microeconomics: Principles, Applications, and Tools


Edition: 8th
Authors:
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dnlee1dnlee1
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4 years ago
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wrote...
#2
4 years ago
Hours of OperationMarginal Cost
16
212
318
424
530
636
742

Table 2.2


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?

▸ 3 hours

▸ 4 hours

▸ 6 hours

▸ 7 hours
wrote...
#3
4 years ago
3 hours
wrote...
#4
4 years ago
Brilliant
wrote...
#5
4 years ago
Hours of OperationMarginal Cost
16
212
318
424
530
636
742

Table 2.2


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 we observe Krystal staying open 4 hours per day. If she is following the marginal principle, what must her marginal benefit be?

▸ $12

▸ $18

▸ $24

▸ $30
wrote...
#6
4 years ago
$24
wrote...
#7
4 years ago
Hours of OperationMarginal Cost
16
212
318
424
530
636
742

Table 2.2


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 we observe Krystal staying open 2 hours per day. If she is following the marginal principle, what must her marginal benefit be?

▸ $6

▸ $12

▸ $15

▸ $18
wrote...
#8
4 years ago
$12
wrote...
#9
4 years ago
I appreciate what you did here, answered it correctly Smiling Face with Open Mouth
wrote...
#10
4 years ago
Hours of OperationMarginal Cost
16
212
318
424
530
636
742

Table 2.2


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 we observe Krystal staying open 5 hours and her marginal benefit of staying open per hour is $18. If she is following the marginal principle, Krystal should:

▸ stay open 2 more hours.

▸ stay open 3 more hours.

▸ stay open 2 fewer hours.

▸ stay open 3 fewer hours.
wrote...
#11
4 years ago
stay open 2 fewer hours.
wrote...
#12
4 years ago
Hours of OperationMarginal Cost
16
212
318
424
530
636
742

Table 2.2


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 we observe Krystal staying open 5 hours and her marginal benefit of staying open per hour is $36. If she is following the marginal principle, Krystal should:

▸ stay open 1 more hour.

▸ stay open 2 more hours.

▸ stay open 1 fewer hour.

▸ stay open 2 fewer hours.
wrote...
#13
4 years ago
stay open 1 more hour.
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