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
Economics
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Can it be efficient for one trader to consume all units of the goods while the other trader consumes nothing? In other words, does this point lie on the contract curve?
What will be an ideal response?
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