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Table 1-3
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 1-3.What is Ivan's marginal benefit if he decides to stay open for six hours instead of five hours?
Warren Bennis' Advice
Guiding principles or recommendations on leadership and management from Warren Bennis, a scholar and author known for his work on leadership.
Treat People Fairly
The principle of dealing with individuals in a just, equitable, and unbiased manner, recognizing their unique circumstances and needs.
Focus on Key Objectives
The prioritization and concentration on achieving the most important goals or outcomes of an endeavor or strategy.
Tolerance of Differences
The willingness to accept and respect the differing beliefs, practices, or characteristics of others.
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