Refer to Table 16-3. Suppose Julie's marginal cost of providing this service is constant at $7 and she charges $7 per hour. What is her marginal revenue?
A) It is $7 for the first hour and starts increasing thereafter.
B) It is constant at $7.
C) It coincides with the figures in the table; $12 for the first hour, $10 for the second, $9 for the third, and $8 for the fourth.
D) It is $7 for the first hour and starts declining thereafter.
B
You might also like to view...
Explain the rational expectations hypothesis
What will be an ideal response?
A mortgage-backed security is a bundle of hundreds of mortgages which represents a claim on the monthly payments made on those mortgages
a. True b. False Indicate whether the statement is true or false
A country has I = $200 billion, S = $400 billion, and purchased $600 billion of foreign assets, how many of its assets did foreigners purchase?
a. $0 b. $200 billion c. $400 billion d. $800 billion
The multiplier tells us the relationship between
A. the exchange rate and the level of imports. B. the interest rate and the level of investment expenditure. C. a change in autonomous spending and the resulting change in equilibrium real GDP. D. the exchange rate and the level of exports.