Barb's Bakery usually closes on Sundays at 2PM. They are debating whether to extend their hours. Barb would have to hire 2 workers for those extra hours at a wage of $15 per hour for each worker. On average, she also incurs other cost that is 33% of revenue. The table below shows the forecasted revenue they'll make for the extra hours they open. For example: after 1 extra hour, their Forecasted Revenue will be $132; after 2 extra hours, their Forecasted Revenue will be $195; etc. Using Marginal Analysis, how many extra hour(s) should Barb's Bakery stay open for? Extra Hour(s) Forecasted Revenue $132 $195 $245 Open 1 2 3 4 5 6 7 Select one: O a.1 $289 $328 $364 $398

Barb's Bakery usually closes on Sundays at 2PM. They are debating whether to extend their hours. Barb would have to hire 2 workers for those extra hours at a wage of $15 per hour for each worker. On average, she also incurs other cost that is 33% of revenue. The table below shows the forecasted revenue they'll make for the extra hours they open. For example: after 1 extra hour, their Forecasted Revenue will be $132; after 2 extra hours, their Forecasted Revenue will be $195; etc. Using Marginal Analysis, how many extra hour(s) should Barb's Bakery stay open for? Extra Hour(s) Forecasted Revenue $132 $195 $245 Open 1 2 3 4 5 6 7 Select one: O a.1 $289 $328 $364 $398

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

A T-shirt shop discovers that the WTP of its customers varies by time of day that they arrive at the shop. It conducts further research and gathers the data in the table. Then it decides to sell the T-shirts for $6 and $5 at different times of the day. What are the highest Sales $ that it can make this way? $ type your answer... Time of Day Evening WTP $5 Demand (Units) 100 Afternoon Morning $6 500 $7 50 Nav
ques 5
Price per arginal Utility Fron Current Consumption Product Unit $ 10 20 20 30 The table shows the marginal utite derived trom curent consumpton leves of three new products. A B and C at are being sold in the maet at the prces isted The contumer can imniediately gan the most extra total utity by winching spending from Mnple Choce ANE
cxalculate the cost of the market basket for 2011, 2012 and 2013?
2. To answer the following questions, use the image below, which presents cost information for Karol's Lobsters Inc. 10 MC ATC 4 AVC 3 2 10 20 30 40 50 60 70 8D 90 100 Quanlily of Lobslers (1000)
Date 7. THE GRIP Of GAS:- Q:Us ase ranked as the least sensihive to changes în price f gaso line, for exam ple, if the pice dose hom 3 to doivers $4 per gallon and gasoline would fall only steyed there for a year us perchases US of about 5%. % (a) Calalate the demand for gao line elashic, unit elastic, or inelashic? e price elashicity oA demand for gasoline.Is ノ (b) Explain how the price oises from $3 to $4 a gallon changes the total xerenue rom gasolinesales.
13| Marzinal costis the change is cot thar sesuliy IroI & OnG UNILICICAGANI 2. Price b. Cost 00m 化: d. Kevenue Ostout Dice
If the price of Coca-Cola increases, what happens to the demand for Pepsi? * PEPSI LIVE EARTH RFL DZ (355 ml]) O It increases. O It decreases. O It stays the same. O It is indeterminate. O It increases, and then decreases. pepsi
If the profit maximizing markub factor in a 10 fim Cournot ol gopnly is -2, what is the corespond ng mwket asery of demand? Mukipie Choice -1.2 2.0 10
Q What is mean by demand, explain low of demond ond demand Function?
Using the concept of price elasticity, evaluate the statement with diagrams. "Imposition of GST will affect local banana farmers' revenue in 2 scenarios, before and after reports surface that some imported bananas were infected with a virus"
i need solution of this question topic revelent cost.. please urgently i need help i also attach question 1 .for reference