Ralph runs a small bakery in D.C. He is debating whether he should extend his hours of operation. He figures that his sales revenue will depend on the number of hours the bakery is open. This detail is shown below. Hours Open 1 2 3 4 O 4 hours 5 6 O none of the above O2 hours O 3 hours O 5 hours Revenue ($) 35 60 80 92 100 105 The hourly wage is $12/hour. How many hours should he stay open? Marginal Revenue ($) Marginal Costs ($)

Ralph runs a small bakery in D.C. He is debating whether he should extend his hours of operation. He figures that his sales revenue will depend on the number of hours the bakery is open. This detail is shown below. Hours Open 1 2 3 4 O 4 hours 5 6 O none of the above O2 hours O 3 hours O 5 hours Revenue ($) 35 60 80 92 100 105 The hourly wage is $12/hour. How many hours should he stay open? Marginal Revenue ($) Marginal Costs ($)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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