Refer to Figure 7.1. If Angus chooses to earn the most money and Dudley does nothing, Dudley will receive a daily payoff of

Using the figure above, which of the following statements is (are) correct?

i. MR = MC when 3 haircuts are produced. ii. If the firm charges each customer the same price for a haircut, the price of a haircut is $42. iii. The firm's MC equals $30. A) i only B) ii only C) i and ii D) i and iii E) None of the above is correct.

Most international trade takes place between countries that are far away from each other

Indicate whether the statement is true or false