Figure 2.4 -Joe Runs a Business and Needs to Decide How Many

question 15

Multiple Choice

Figure 2.4
-Joe runs a business and needs to decide how many hours to stay open.Figure 2.4 illustrates his marginal benefit of staying open for each additional hour.Suppose that we observe Joe staying open 6 hours per day.If he is following the marginal principle,what must his marginal cost be?

• A) $16
• B) $24
• C) $32
• D) $48

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