Table 2.2 -Julianne Runs a Business and Needs to Decide How Many

question 106

Multiple Choice

Table 2.2
-Julianne runs a business 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 Julianne's marginal benefit of staying open per hour is $24.If she is following the marginal principle,how many hours should Julianne stay open?

• A) 2 hours
• B) 4 hours
• C) 6 hours
• D) 7 hours

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Definitions:

Iso-profit Line

A graphical representation in economics showing all possible combinations of two inputs that yield the same profit level.

Producing

The act of creating, manufacturing, or generating goods or services.

Feasible Solution

A solution to a problem that meets all the constraints and requirements, often used in the context of optimization problems.

Quantity

A term denoting the amount or number of units of a particular item or material.