Krystal runs a nail salon and needs to decide how many hours to stay open. Table 2.2 illustrates her marginal costs of staying open for each additional hour. Suppose that Krystal's marginal benefit of staying open per hour is $30
If she is following the marginal principle, how many hours should Krystal stay open?
A) 4 hours B) 5 hours C) 6 hours D) 7 hours
B
Economics
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Refer to Table 2-9. What is Japan's opportunity cost of producing one pound of rice?
A) 0.04 units of a wristwatch B) 4 wristwatches C) 25 wristwatches D) 40 wristwatches
Economics
Opportunity costs arise due to
a. Resource scarcity b. Interest rates c. Limited wants d. Preferences
Economics