This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: It is common to see convenience stores open 24 hours a day even though many times late at night or ... (Read 94 times)

lidoalex

  • Hero Member
  • *****
  • Posts: 538
on: Jun 29, 2018
It is common to see convenience stores open 24 hours a day even though many times late at night or in the early hours of the morning there are very few customers. What can explain this seemingly odd behavior?
 
  What will be an ideal response?

Question 2

Refer to Table 4-4. If a minimum wage of 10.50 an hour is mandated, what is the quantity of labor supplied?
 
  A) 400,000 B) 370,000 C) 340,000 D) 60,000


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

millet

  • Sr. Member
  • ****
  • Posts: 354
Reply #1 on: Jun 29, 2018
Answer to Question 1

It must be that the marginal revenue of staying open (the extra revenue from those few customers) is greater than or equal to the marginal cost of staying open.

Answer to Question 2

A


lidoalex

  • Member
  • Posts: 538
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

alexanderhamilton

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

(a) Zombies are a common theme in movies. However, (b) the number of zombie movies released each yea (a) Zombies are a common theme in movies. However, (b) the number of zombie movies released each yea
The Pleiades, an open cluster of stars in the constellation of Taurus. These stars share a common mo The Pleiades, an open cluster of stars in the constellation of Taurus. These stars share a common mo
The a helix, a common secondary structure in proteins The a helix, a common secondary structure in proteins
Valves in veins open to permit blood flow, close to prevent backflow. Valves in veins open to permit blood flow, close to prevent backflow.
Primary rainbows are the brightest and most common. Primary rainbows are the brightest and most common.
Video: How eudicots (true dicots) differ from monocots Animation

For a complete list of videos, visit our video library