Many Stores Are Open 24 Hours a Day

question 7

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 play no role.
• E) the marginal benefit of remaining open all day is zero.

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Definitions:

Article 2

A section of the UCC that governs the sale of goods, establishing standards and regulations for contracts and transactions.

Quasi Contract

An obligation imposed by law to prevent unjust enrichment, where there is no real contract between the parties.

College Catalog

An official publication by a college or university that provides essential information about academic programs, policies, and regulations.

Steinberg v. Chicago Medical School

A legal case involving the issue of whether a private medical school acted improperly in the admission process, considering contractual obligations.