Table 1-2 Thuy Anh Runs a Small Flower Shop in the Town

question 77

Multiple Choice

Table 1-2

Thuy Anh runs a small flower shop in the town of Florabunda. She is debating whether she should extend her hours of operation. Thuy Anh figures that her sales revenue will depend on the number of extra hours the flower shop is open as shown in the table above. She would have to hire a worker for those extra hours at a wage rate of $16 per hour.
-Refer to Table 1-2.What is Thuy Anh's marginal cost if she decides to stay open for an extra three hours instead of two hours?

• A)$0
• B)$16
• C)$25
• D)$32
• E)$45

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Definitions:

Utility Function

A mathematical representation of how consumers rank different bundles of goods according to the level of satisfaction or utility those goods provide.

Cow Feed

Food specifically formulated or suitable for feeding cattle.

Consumption

Refers to the total amount of goods and services purchased and used by consumers over a period of time.

Utility Function

A mathematical representation of how a set of choices maps to their associated levels of happiness or satisfaction for an individual or entity.