This topic contains a solution. Click here to go to the answer

Author Question: It is common to see convenience stores open 24 hours a day even though many times late at night or ... (Read 84 times)

lidoalex

  • Hero Member
  • *****
  • Posts: 538
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
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


pangili4

  • Member
  • Posts: 346
Reply 3 on: Yesterday
Gracias!

 

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

For a complete list of videos, visit our video library