Table 16-3 Julie Plans to Start a Pet-Sitting Service. She Surveyed Her

question 162

Multiple Choice

Table 16-3

Julie plans to start a pet-sitting service. She surveyed her neighborhood to determine the demand for this service. Assume that each person surveyed demands only one hour of pet sitting services per period. Table 16-3 above shows a portion of her survey results.
-Refer to Table 16-3.Suppose Julie's marginal cost of providing this service is constant at $7 and she charges $7.How many hours will be purchased and what is her total revenue?

• A)5 hours; total revenue = $35
• B)4 hours; total revenue = $28
• C)3 hours; total revenue = $21
• D)2 hours; total revenue = $14

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