Table 1-6 Ivan Runs a Custom Jewelry Shop in Sparkle

question 160

Multiple Choice

Table 1-6
Ivan runs a custom jewelry shop in Sparkle City. He is debating whether he should extend his hours of operation. Ivan figures that his sales revenue will depend on the number of additional hours the jewelry shop is open as shown in the table above. He would have to hire a worker for those hours at a wage rate of $25 per hour.
-Refer to Table 1-6. Using marginal analysis, how many hours should Ivan extend his hours of operations?

• A) 2 hours
• B) 3 hours
• C) 4 hours
• D) 5 hours
• E) 6 hours

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Definitions:

Publicizing

The process of promoting or making something widely known to the public, often used in marketing.

One Minute

A brief period of time, specifically sixty seconds, often referenced to emphasize quick or immediate actions or decisions.

Goal Setting

A motivational technique that involves establishing specific, measurable, achievable, relevant, and time-bound objectives to improve performance or achieve certain outcomes.

Multi-source Assessment

An evaluation method that incorporates feedback from multiple sources, such as peers, supervisors, and subordinates, to get a comprehensive view of performance.