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

question 211

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

• A)$10
• B)$20
• C)$30
• D)$91.67

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Definitions:

Passive Investment

An investment strategy involving minimal buying and selling actions, typically focused on long-term investment in index funds and ETFs.

Target Date Fund

A mutual fund designed to adjust its asset allocation towards more conservative investments as it approaches a specific target date.

Variable Annuity

An insurance product that provides a retirement income and whose value fluctuates with the performance of the investment options chosen by the holder.

Life Expectancy

The average period that an individual is expected to live, based on demographic factors such as current age and health conditions.