Figure 2.4 -Joe Runs a Business and Needs to Decide How Many

question 20

Multiple Choice

Figure 2.4
-Joe runs a business and needs to decide how many hours to stay open. Figure 2.4 illustrates his marginal benefit of staying open for each additional hour. Suppose that Joe's marginal cost of staying open per hour is $40. How many hours should Joe stay open?

• A) 4 hours
• B) 5 hours
• C) 3 hours
• D) 6 hours

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Definitions:

Achievement Motivation

The drive or urge to accomplish goals or meet high standards of performance.

Postconventional Level

According to Kohlberg, a period during which moral judgments are derived from moral principles and people look to themselves to set moral standards.

Moral Judgements

Evaluations or decisions made by individuals regarding what is right or wrong in human behavior and actions, based on ethical principles.

Authority Figures

Individuals in positions of power who are respected and obeyed by others, often due to their perceived knowledge, expertise, or position.