Many Stores Are Open 24 Hours a Day

question 7

Multiple Choice

Many stores are open 24 hours a day.When store managers make the decision to stay open 24 hours,it must be the case that the:

• A) marginal benefit of staying open all day and the marginal cost to remaining open all day are at least equal.
• B) marginal benefit of staying open all day must always be greater than the marginal cost to remaining open all day.
• C) marginal cost of staying open all day must always be greater than the marginal benefit to remaining open all day.
• D) calculation of marginal benefits or marginal costs of remaining open all day play no role.
• E) marginal benefit of remaining open all day is zero.

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Definitions:

Consumer

Someone who buys or leases real estate, goods, or services for personal, family, or household purposes.

Good Faith

A principle emphasizing honesty and sincerity in dealings, particularly in legal contracts or negotiations, without any intention to deceive or commit fraud.

Depositary Bank

A financial institution that holds securities for investors, managing dividend and interest payments.

Collection

The process of pursuing payments of debts owed by individuals or businesses.