The Following Table Shows the Total Benefit from Painting 0,1,2,3,or

question 182

Multiple Choice

The following table shows the total benefit from painting 0,1,2,3,or 4 rooms in a home.

-If the marginal benefit is constant at $350,what is the optimal number of rooms to paint?

• A) 0.
• B) 1.
• C) 2.
• D) 3.
• E) 4.

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Definitions:

Extracting

The process of obtaining raw materials from the natural environment for use in the production of goods or services.

Selling

The act of offering goods or services in exchange for money, involving strategies and processes to persuade customers to make a purchase.

Time-Value

Time-value represents the concept that money available at the current time is worth more than the same amount in the future due to its potential earning capacity, emphasizing the importance of time in finance.

Interest Rates

The cost of borrowing money, typically expressed as a percentage of the principal loan amount charged by lenders to borrowers.