Table 1-1 Lydia Runs a Small Nail Salon in the in the Town

question 345

Multiple Choice

Table 1-1
Lydia runs a small nail salon in the town of New Hope. She is debating whether she should extend her hours of operation. Lydia figures that her sales revenue will depend on the number of hours the nail salon is open as shown in the table above. She would have to hire a worker for those hours at a wage rate of $10 per hour.
-Refer to Table 1-1. What is Lydia's marginal benefit if she decides to stay open for two hours instead of one hour?

• A) $25
• B) $50
• C) $75
• D) $125

---

Definitions:

International Firm

A company that engages in cross-border business activities, operating in multiple countries outside of its home country, and dealing with international production or trade.

Existing Products

Products that are currently available in the market, as opposed to new or upcoming products.

Home Country

The country in which a person was born and usually raised, or where a company is headquartered.

Global Marketing Strategy

A strategy used by transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.