Use the Table Below to Answer the Following Questions

question 24

Multiple Choice

Use the table below to answer the following questions.
Table 12.2.3

-Refer to Table 12.2.3,which gives the total cost schedule for Brenda's Balloon Shop,a perfectly competitive firm.The marginal cost of increasing production from 4 balloons an hour to 5 balloons an hour is

• A)$1.
• B)$4.50.
• C)$4.70.
• D)$4.80.
• E)$4.40.

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Definitions:

Reasonable Person

A legal standard used to determine how an average person would responsibly act in certain circumstances for the purpose of establishing negligence.

Insurance Agents

Persons acting on behalf of an insurer to handle policies.

Principals

A term referring to the main parties involved in a business or agreement.

Duty of Care

Duty of care is a legal obligation imposed on individuals to exercise a reasonable standard of care while performing any acts that could foreseeably harm others.