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 we observe Krystal staying open 4 hours per day
If she is following the marginal principle, what must her marginal benefit be?
A) $12 B) $18 C) $24 D) $30
C
Economics
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At the competitive equilibrium:
A) the demand curve is tangential to the supply curve. B) the quantity demanded exceeds the quantity supplied of a good. C) the quantity supplied exceeds the quantity demanded of a good. D) the quantity demanded is equal to the quantity supplied of a good.
Economics
Refer to Figure 15-4. What is the amount of the monopoly's total revenue?
A) $21,600 B) $20,400 C) $19,740 D) $7,800
Economics