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Fantom [35]
3 years ago
15

Your opportunity cost of cutting hair at your barbershop is $20 per hour. Electricity costs $6 per hour, and your weekly rent is

$250. You normally stay open nine hours per day. What is the marginal cost of staying open for one more hour?
A) $276
B) $26
C) $250
D) $37
Business
1 answer:
Brilliant_brown [7]3 years ago
3 0

Answer:

B) $26

Explanation:

Marginal Cost Formula:

Marginal Cost = Change in total cost / Change in quantity

Marginal Cost = (2070-1888) / 10-9

Marginal Cost = 182/1

Marginal Cost = $182

Marginal Cost = 182/70 = $26/hour

Working:

9 hours a day

Number of Hours worked during week = 9x7 = 63 hours

Total Cost = ((20+6)x63)+250 = $1,888

10 hours a day

Number of Hours worked during week = 10x7 = 70 hours

Total Cost = ((20+6)x70)+250 = $2,070

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6 0
3 years ago
New York City limits the number of taxi cabs that can legally operate in the city. The most likely result of this practice is th
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Answer:

cab fares will be higher.

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8 0
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6 0
3 years ago
Gillie, Taft, and Dall are partners in an accounting firm. The partnership agreement is silent about the payment of salaries and
devlian [24]

Answer:

Explanation:

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3 0
3 years ago
Read 2 more answers
Answer the question on the basis of the given supply and demand data for wheat. Bushels Demanded Per Month Price Per Bushel Bush
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Answer:

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Equilibrium price is $2. This is where quantity supplied equals quantity demanded.

I hope my answer helps you

6 0
3 years ago
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