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

question 150

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 decides to charge each customer according to his or her willingness to pay.What is Julie's total revenue and how many hours of service will be purchased?

• A)4 hours and her total revenue = $39
• B)4 hours and her total revenue = $28
• C)1 hour and her total revenue = $7
• D)5 hours and her total revenue = $35

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