Thuy Anh runs a small flower shop in the town of Florabunda. She is debating whether she should extend her hours of operation. Thuy Anh figures that her sales revenue will depend on the number of extra hours the flower shop is open as shown in the table to the right. She would have to hire a worker for those extra hours at a wage rate of $16 per hour. Using marginal analysis. by how many hours should Thuy Anh extend her flower shop's hours of operations? Extra Hours Open Total Revenue (dollars) $25 1 2 3 4 5 6 45 70 90 105 110

Thuy Anh runs a small flower shop in the town of Florabunda. She is debating whether she should extend her hours of operation. Thuy Anh figures that her sales revenue will depend on the number of extra hours the flower shop is open as shown in the table to the right. She would have to hire a worker for those extra hours at a wage rate of $16 per hour. Using marginal analysis. by how many hours should Thuy Anh extend her flower shop's hours of operations? Extra Hours Open Total Revenue (dollars) $25 1 2 3 4 5 6 45 70 90 105 110

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Thuy Anh runs a small flower shop in the town of Florabunda. She is debating whether she should extend
her hours of operation. Thuy Anh figures that her sales revenue will depend on the number of extra hours
the flower shop is open as shown in the table to the right. She would have to hire a worker for those extra
hours at a wage rate of $16 per hour.
Using marginal analysis, by how many hours should Thuy Anh extend her flower shop's hours of
operations?
Extra Hours Open Total Revenue (dollars)
$25
1
2
3
56
4
45
70
90
105
110
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 to the right. He would have to hire a worker for those extra hours at a
wage rate of $18 per hour.
Using marginal analysis, by how many hours should Santiago extend his store's hours of operations?
Extra Hours Open Total Revenue (dollars)
1
$70
2
120
3
160
4
184
200
210

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