Table 1-5 Julius Runs a Small Tailor Shop in the in the City

question 1

Multiple Choice

Table 1-5
Julius runs a small tailor shop in the city of Bloomfield. He is debating whether he should extend his hours of operation. Julius figures that his sales revenue will depend on the number of additional hours the tailor shop is open as shown in the table above. He would have to hire a worker for those hours at a wage rate of $18 per hour.
-Refer to Table 1-5. What is Julius's marginal benefit if he decides to stay open for three hours instead of two hours?

• A) $15
• B) $25
• C) $65
• D) $80

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Definitions:

Adaptive Value

The degree to which a trait or behavior enhances an organism's chances of survival and reproduction in its environment.

Evolutionary Theorists

Scholars and scientists who study and develop theories regarding the biological evolution of species, explaining traits and behaviors through natural selection.

Expectancy-Value Model

A psychological theory stating that motivation is determined by an individual's expected outcomes and the value they place on those outcomes.

Study

The act of devoting time and attention to acquiring knowledge on an academic subject, particularly by means of books.