# Refer to table 16 1 suppose julie ʹ s marginal cost

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Chapter 13 / Exercise 25
Exploring Microeconomics
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72)Refer to Table 16-1.Suppose Julieʹs marginal cost of providing this service is constant at \$7 andshe decides to charge each customer according to his or her willingness to pay. What is Julieʹs totalrevenue and how many hours of service will be purchased?A) 4 hours and her total revenue=\$39B) 5 hours and her total revenue=\$35C) 1 hour and her total revenue=\$7D) 4 hours and her total revenue=\$2872)Answer: A
Diff: 3Page Ref: 527-528/527-528Topic: Perfect Price DiscriminationLearning Outcome: Micro 14: Discuss production and pricing decisions within monopolies and how publicpolicies affect monopoliesAACSB: Analytic Skills73)Refer to Table 16-1.Suppose Julieʹs marginal cost of providing this service is constant at \$7 andshe decides to charge each customer according to his or her willingness to pay. What is the valueof consumer surplus by her customers?
Diff: 2Page Ref: 527-528/527-528Topic: Perfect Price DiscriminationLearning Outcome: Micro 14: Discuss production and pricing decisions within monopolies and how publicpolicies affect monopoliesAACSB: Analytic Skills74)Refer to Table 16-1.Suppose Julieʹs marginal cost of providing this service is constant at \$7 andshe charges each customer according to his or her willingness to pay instead of a uniform price of\$7. Which of the following statements is true?
74)
Diff: 2Page Ref: 527-528/527-528Topic: Perfect Price DiscriminationLearning Outcome: Micro 14: Discuss production and pricing decisions within monopolies and how publicpolicies affect monopoliesAACSB: Reflective Thinking
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Chapter 13 / Exercise 25
Exploring Microeconomics
Sexton
Expert Verified