Table 2.2 -Julianne Runs a Business and Needs to Decide How Many

question 91

Multiple Choice

Table 2.2
-Julianne runs a business 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 Julianne's marginal benefit of staying open per hour is $3.If she is following the marginal principle,how many hours should Julianne stay open?

• A) 1 hour
• B) 3 hours
• C) 6 hours
• D) none of the above

---

Definitions:

Barriers

Obstacles or impediments that prevent or hinder access to a market, including various forms such as legal, technological, or economic barriers.

Price Control

Government-imposed limits on the prices that can be charged for goods and services in the market.

Differentiating Products

The strategy of making a product or service stand out from competitors by emphasizing its unique features or qualities.

Close Substitutes

Goods or services that can serve as replacements for each other with minimal difference in utility for the consumer.