Solved

-Joe Runs a Business and Needs to Decide How Many

Question 32

Multiple Choice

-Joe runs a business and needs to decide how many hours to stay open. Figure 2.2 illustrates his marginal benefit of staying open for each additional hour. Suppose that we observe Joe staying open 6 hours per day. If he is following the marginal principle, what must his marginal cost per hour be? A) $16 B) $24 C) $32 D) $48
-Joe runs a business and needs to decide how many hours to stay open. Figure 2.2 illustrates his marginal benefit of staying open for each additional hour. Suppose that we observe Joe staying open 6 hours per day. If he is following the marginal principle, what must his marginal cost per hour be?


A) $16
B) $24
C) $32
D) $48

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q27: The opportunity cost of something is the

Q28: Recall the Application about the best speed

Q29: Jacinda quit her job as a blackjack

Q30: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2855/.jpg" alt=" -Joe runs a

Q31: Table 2.5<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2855/.jpg" alt="Table 2.5

Q33: Recall the Application about Jasper Johns and

Q34: According to the possible trade-off example between

Q35: Opportunity cost is the difference between the

Q36: Suppose your bank pays you 4 percent

Q37: Table 2.1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2855/.jpg" alt="Table 2.1