Many Stores Are Open 24 Hours a Day

question 104

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

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

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Definitions:

Signaling Device

An object or action that is used to convey information or instructions to others, often without the use of words or direct communication.

Fire Prevention Program

A set of measures designed to minimize the occurrence and impact of fire by maintaining a safe environment and educating about fire safety practices.

Expected Loss

The calculated sum of all possible losses, each weighted by the probability of its occurrence, a crucial concept in risk management and financial planning.

No Insurance

pertains to the absence of any insurance coverage for individuals or entities, leaving them exposed to risk.