If a Consumer Can Buy Four Pizzas for $24 and Five

question 123

Multiple Choice

If a consumer can buy four pizzas for $24 and five pizzas for $25, then the marginal cost of the fifth pizza is:

• A) $25.
• B) $6.
• C) $1.
• D) $5.

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Definitions:

Hospital Insurance

Coverage that pays for hospitalization expenses either partially or in full, typically part of health insurance.

Time and a Half

A pay rate that is 1.5 times the employee's regular hourly rate, typically awarded for overtime work.

Double Time

A rate of pay that is twice the employee's normal hourly rate, often applied to overtime work beyond a certain number of hours.

Time and a Half

Time and a half refers to an overtime pay rate of one and a half times the regular rate, typically paid for work done beyond standard working hours.