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Lydia runs a small nail salon in the town of New Hope. She is debating whether she should extend her hours of operation. Lydia figures that her sales revenue will depend on the number of hours the nail salon is open as shown in the table above. She would have to hire a worker for those hours at a wage rate of $15 per hour.

Lydia runs a small nail salon in the town of New Hope. She is debating whether she should extend her hours of operation. Lydia figures that her sales revenue will depend on the number of hours the nail salon is open as shown in the table above. She would have to hire a worker for those hours at a wage rate of $15 per hour.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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hours at a wage rate of $15 per hour. Refer to the table above. Using marginal analysis, determine how many hours should Lydia extend her nail salon's hours of operations? O 3 hours O 4 hours O 2 hours O 6 hours O 5 hours
Transcribed Image Text:hours at a wage rate of $15 per hour. Refer to the table above. Using marginal analysis, determine how many hours should Lydia extend her nail salon's hours of operations? O 3 hours O 4 hours O 2 hours O 6 hours O 5 hours
Hours Total Revenue Оpen (dollars) $50 75 3 95 4 110 5 120 6 125 Lydia runs a small nail salon in the town of New Hope. She is debating whether she should extend her hours of operation. Lydia figures that her sales revenue will depend on the number of hours the nail salon is open as shown in the table above. She would have to hire a worker for those hours at a wage rate of $15 per hour.
Transcribed Image Text:Hours Total Revenue Оpen (dollars) $50 75 3 95 4 110 5 120 6 125 Lydia runs a small nail salon in the town of New Hope. She is debating whether she should extend her hours of operation. Lydia figures that her sales revenue will depend on the number of hours the nail salon is open as shown in the table above. She would have to hire a worker for those hours at a wage rate of $15 per hour.
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