Table 1-6 Ivan Runs a Custom Jewelry Shop in Sparkle

question 249

Multiple Choice

Table 1-6
Ivan runs a custom jewelry shop in Sparkle City. He is debating whether he should extend his hours of operation. Ivan figures that his sales revenue will depend on the number of additional hours the jewelry shop is open as shown in the table above. He would have to hire a worker for those hours at a wage rate of $25 per hour.
-Refer to Table 1-6. What is Ivan's marginal cost if he decides to stay open for six hours instead of five hours?

• A) $10
• B) $20
• C) $25
• D) $91.67

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Definitions:

Cognition

refers to the mental processes involved in acquiring knowledge and understanding through thought, experience, and the senses.

Learned Helplessness

A condition in which an individual learns to feel powerless and stops trying to change their situation, often a result of repeated failures or lack of control.

Seligman's Model

Refers to the learned helplessness theory, proposing that individuals may learn to perceive themselves as powerless in situations of repeated failure or discomfort.

Depressed Individuals

Refers to persons who are experiencing a state of low mood and aversion to activity, significantly affecting their thoughts, behavior, feelings, and sense of well-being.