Why is Marcia the storekeeper willing to by Dr. Robert Murphy @Mises

Question 30 / 96: Why is Marcia the storekeeper willing to pay up to $40 to have someone clean her store at the end of the day?

Answer:

If Marcia has to clean the store herself, she sacrifices 30 minutes that she could have spent pushing sales.

Because it takes her an average of 15 minutes to close a sale, that means Marcia loses out on 2 typical sales if she doesn't hire someone to clean for her.

Because the text assumes Marcia nets an average of $20 per sale, her 30 minutes is worth $40 to her, and that is the most she would be willing to pay someone else to do her cleaning.

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https://www.jobilize.com/capitalism-the-market-economy-by-dr-robert-murphy-mises

Capitalism: The Market Economy

Access: Public Peer Review

Dr.Robert MurphyAssociated Scholar

Mises Institute

USA

Attribution: Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY

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