Principles of Economics S1 20/21n 6Quiz navigationSuppose the cost of operating a 75 room hotel for a night is $6,000 and there are 5 empty rooms for tonight.If the marginal cost of operating one room for one night is $40, the hotel manager should rent one of the1.2.4redempty rooms only if a customer is willing to payd out of1011121314O a. more than $40, as the average benefit will exceed the marginal cost.9 question1920O b. more than $80, as the marginal benefit will exceed the marginal cost.Finish attempt..WEEC. more than $40, as the marginal benefit will exceed the marginal cost.Time left 0:27:12d. more than $80, as the average benefit will exceed the marginal cost.Next pageevious page3.

Marginal benefit(MB) means the additional benefit/utility which a person gets from performing a…

ST 20/21 Quiz navigation Suppose the cost of operating a 75 room hotel for a night is $6,000 and there are 5 empty rooms for tonight. If the marginal cost of operating one room for one night is $40, the hotel manager should rent one of the 1 2 4. empty rooms only if a customer is willing to pay out of 10 11 12 13 O a. more than $40, as the average benefit will exceed the marginal cost. question 19 20 O b. more than $80, as the marginal benefit will exceed the marginal cost. Finish attempt . O c. more than $40, as the marginal benefit will exceed the marginal cost. Time left 0:27:12 O d. more than $80, as the average benefit will exceed the marginal cost. Next page

ST 20/21 Quiz navigation Suppose the cost of operating a 75 room hotel for a night is $6,000 and there are 5 empty rooms for tonight. If the marginal cost of operating one room for one night is $40, the hotel manager should rent one of the 1 2 4. empty rooms only if a customer is willing to pay out of 10 11 12 13 O a. more than $40, as the average benefit will exceed the marginal cost. question 19 20 O b. more than $80, as the marginal benefit will exceed the marginal cost. Finish attempt . O c. more than $40, as the marginal benefit will exceed the marginal cost. Time left 0:27:12 O d. more than $80, as the average benefit will exceed the marginal cost. Next page

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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