1. Option A
Explanation: When the marginal benefit is greater than zero, it will add to the total benefit.
2. Option B
Explanation: The marginal cost of the 10th unit = Price of the gasoline - the price of the car wash = $2 - $1.5 = $0.5
A restaurant offers an "all you can eat" lunch buffet for $12. Jim has eaten three...
12. The Johnson Buffet offers an all-you-can-eat buffet meal for $28 per person. The restaurant employs ten salaried employees. Rent for the building employee salaries, and other fixed costs for the restaurant are $67,500 per month when the restaurant serves meals up to 14,200 guests in that month. If the restaurant were to serve more than 14,200 guests in any given month, it would need to hire two additional servers and two additional kitchen staff for an additional fixed cost...
Budgeting for an Academic Department at a State University: Can You Believe the Numbers? INTRODUCTION You are the senior accounting faculty member in the business school and your dean, Dean Weller, is asking for help. She is very discouraged after a midyear budget meeting with the Vice President of Finance. The college's Department of Social Work has a large budget deficit, and because of this the VP is inclined towards closing the department entirely or closing its bachelor's program. The...