Stephen runs a pet salon. he is currently grooming 130130 dogs per week. if instead of grooming 130130 dogs, he grooms 131131 dogs, he will add $65.8265.82 to his costs and $68.1268.12 to his revenues. what will be the effect on his profits of grooming 131131 dogs instead of 130130 dogs?

Profit will increase by $2.3

Explanation:

Data provided in the question:

If instead of grooming 130130 dogs, he grooms 131131 dogs

Marginal cost = $65.82

Marginal revenue = $68.12

Now,

The effect on his profits of grooming 131 dogs instead of 130 dogs will be:

Change in profit = Marginal revenue - Marginal cost

or

Change in profit = $68.12 - $65.82

or

Change in profit = $2.3

Hence,

Profit will increase by $2.3

rational decision making is a multi-step process for making choices between alternatives. the process of rational decision making favors logic, objectivity, and analysis over subjectivity and insight. the word “rational” in this context does not mean sane or clear-headed as it does in the colloquial sense.

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