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

question 115

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 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.Using marginal analysis,determine 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:

Id

In psychoanalytic theory, the part of the mind in which innate instinctive impulses and primary processes are manifest.

Libido

A term often used in psychoanalytic theory to denote the energy of the sexual drive as a component of the life instinct.

Characteristic Patterns

Describes the recurring behaviors, thoughts, or emotions that are typical for an individual or within a specific context.

Personality

The unique and consistent pattern of thoughts, feelings, and behaviors that distinguish one individual from another.