Suppose all individuals are identical, and their monthly demand for Internet access from a certain leading provider can be represented as p = 5-(1/2)q where p is price in dollars per hour and q is hours per month. The firm faces a constant marginal cost of $1. If the firm will charge a monthly access fee plus a per hour rate, the monthly access fee will equal $16 O $5 O $8 O $1

Suppose all individuals are identical, and their monthly demand for Internet access from a certain leading provider can be represented as p = 5-(1/2)q where p is price in dollars per hour and q is hours per month. The firm faces a constant marginal cost of $1. If the firm will charge a monthly access fee plus a per hour rate, the monthly access fee will equal $16 O $5 O $8 O $1

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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