Extra Hours Total Revenue (dollars) Open 1 $70 2 120 3 160 4 184 5 200 -210 6 Santiago runs a comic book store in the town of East Arbor. He is debating whether he should extend his hours of operation. Santiago figures that his sales revenue will depend on the number of extra hours the store is open as shown in the table above. He would have to hire a worker for those extra hours at a wage rate of $18 per hour. Refer to Table 1-3. Using marginal analysis, by how many hours should Santiago extend his store's hours of operations?
Extra Hours Total Revenue (dollars) Open 1 $70 2 120 3 160 4 184 5 200 -210 6 Santiago runs a comic book store in the town of East Arbor. He is debating whether he should extend his hours of operation. Santiago figures that his sales revenue will depend on the number of extra hours the store is open as shown in the table above. He would have to hire a worker for those extra hours at a wage rate of $18 per hour. Refer to Table 1-3. Using marginal analysis, by how many hours should Santiago extend his store's hours of operations?
Chapter2: Computing Wages And Salaries
Section: Chapter Questions
Problem 1PB
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Transcribed Image Text:Extra Hours
Total Revenue (dollars)
Open
1
$70
2
120
3
160
4
184
5
200
-210
6
Santiago runs a comic book store in the town of East Arbor. He is
debating whether he should extend his hours of operation. Santiago
figures that his sales revenue will depend on the number of extra
hours the store is open as shown in the table above. He would have
to hire a worker for those extra hours at a wage rate of $18 per hour.
Refer to Table 1-3. Using marginal analysis, by how many hours should
Santiago extend his store's hours of operations?
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