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04. If the orist below shows the marginal benefit that a florist earns from keeping his store open one more hour. The florist has a marginal cost of 8:70 per hour. For the last five weeks he has stayed open 24 hours. Hours Marginal Benet per Hour 18 100 19 30 20 7O 21 60 22 30 23 20 24 10 a. Do you think the florist's decision to stay open 24 hours is optimal? Why? (1.5 Marks) b. How many hours do you advise him to stay open? Why? (1.5 Marks) 05. If the demand and supply curves for boxes are: D = 100 - 8F and S = 22 + 4P, where P is the price of boxes. Does the law of supply apply for the market of boxes? Why? (3 Marks) Calculate the equilibrium quantity and price? (2 Marks)