Table 2.2
-Krystal runs a nail salon and needs to decide how many hours to stay open. Table 2.2 illustrates her marginal costs of staying open for each additional hour. Suppose that we observe Krystal staying open 2 hours per day. If she is following the marginal principle, what must her marginal benefit be?
Definitions:
Duplication
Reproduction or copying of a process, product, or service in order to achieve redundancy or increase capacity.
Underutilization
The condition of not using resources, skills, or talents to their full potential, often within a workforce context.
Centralized
Refers to the system or organization where decision-making authority is concentrated at a high or singular point, often to maintain control and uniformity.
Direct Supervision
The management approach where a supervisor is directly involved in overseeing and guiding the work of subordinates, often with immediate feedback and control.
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