Table 2.2 -Krystal Runs a Nail Salon and Needs to Decide How

question 12

Multiple Choice

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 5 hours and her marginal benefit of staying open per hour is $36. If she is following the marginal principle, Krystal should

• A) stay open 1 more hour.
• B) stay open 2 more hours.
• C) stay open 1 fewer hour.
• D) stay open 2 fewer hours.

Understand classic leadership styles and their application within group settings.

Apply effective communication skills (verbal, nonverbal, focusing, attending, and responding) within a group.

Utilize conflict resolution skills (negotiating, mediating, moderating) effectively in group leadership.

Recognize the importance and impact of environmental and social factors on group dynamics and leadership styles.

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Definitions:

Variance

A statistical measurement of the dispersion or spread in a set of data points, reflecting how much the numbers differ from each other and from the mean.

Probability

The measure of the likelihood that an event will occur, quantified as a number between 0 and 1, with 1 indicating certainty.

Penalties

Financial or other forms of punishment applied for violation of rules, laws, or contracts.