Question 8 The table below shows the marginal benefit that Yahya earns from keeping his store open one more hour. Yahya has a marginal cost of $100 per hour. Yahya stays open 8 hours. Hours {:[" Marginal Benefit Per "],[" Hour "]:} 8 180 9 150 10 140 11 120 12 100 13 80 14 50 a) Do you think Yahya's decision to stay open 8 hours is optimal? Why? b) How many hours do you advise Yahya to stay open? Why?
Question 8 The table below shows the marginal benefit that Yahya earns from keeping his store open one more hour. Yahya has a marginal cost of $100 per hour. Yahya stays open 8 hours. Hours {:[" Marginal Benefit Per "],[" Hour "]:} 8 180 9 150 10 140 11 120 12 100 13 80 14 50 a) Do you think Yahya's decision to stay open 8 hours is optimal? Why? b) How many hours do you advise Yahya to stay open? Why?
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
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SEU ELITE - ECON101 Question 8 The table below shows the marginal benefit that Yahya earns from keeping his store open one more hour. Yahya has a marginal cost of $100 per hour. Yahya stays open 8 hours. Hours {:[" Marginal Benefit Per "],[" Hour "]:} 8 180 9 150 10 140 11 120 12 100 13 80 14 50 a) Do you think Yahya's decision to stay open 8 hours is optimal? Why? b) How many hours do you advise Yahya to stay open? Why?
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