-Joe Runs a Business and Needs to Decide How Many

question 91

Multiple Choice

-Joe runs a business and needs to decide how many hours to stay open. Figure 2.2 illustrates his marginal benefit of staying open for each additional hour. Suppose that we observe Joe staying open 5 hours per day. If he is following the marginal principle, what must his marginal cost per hour be?

• A) $16
• B) $24
• C) $32
• D) $40

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Definitions:

Affirmative Action

Policies or measures that aim to increase opportunities for historically disadvantaged groups by considering those group memberships in decisions.

Reverse Discrimination

Discrimination against members of a dominant or majority group, often as a result of policies intended to correct discrimination against minority or disadvantaged groups.

EEO

Equal Employment Opportunity, a principle that ensures fair treatment to all employees and job applicants irrespective of race, color, religion, sex, national origin, age, disability, or genetic information.

Americans with Disabilities Act

A civil rights law that prohibits discrimination against individuals with disabilities in all areas of public life, including jobs, schools, transportation, and all public and private places open to the general public.