Table 1-3 Ivan Runs a Custom Jewelry Shop in Sparkle

question 69

Multiple Choice

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 cost if he decides to stay open for six hours instead of five hours?

• A)$10
• B)$20
• C)$25
• D)$91.67

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Definitions:

Money Supply

The total amount of money available in an economy at a specific time, including cash and various types of deposits.

Government Securities

Financial instruments issued by the government to finance its expenditures, offering a return to the investors.

Banking System

The network of institutions that accept deposits, offer loans, and provide a variety of financial services to their customers, including savings and checking accounts.

Paper Money

Currency in the form of paper notes, issued by the government or central bank, representing a claim on the issuing country's government.