Suppose that Jacques, Julia, Cat, and Guy are potential suppliers of catering services for weddings. Each can cater at most one wedding. Jacques' cost of catering a wedding is $50,000; Julia's cost is $40,000; Cat's cost is $30,000; and Guy's cost is $20,000. If two wedding's are catered, who will be the marginal producer? Cat Guy Jacques Julia

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Chapter7: Production, Costs, And Industry Structure
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Suppose that Jacques, Julia, Cat, and Guy are potential suppliers of catering services for
weddings. Each can cater at most one wedding. Jacques' cost of catering a wedding is $50,000;
Julia's cost is $40,000; Cat's cost is $30,000; and Guy's cost is $20,000. If two wedding's are
catered, who will be the marginal producer?
Cat
Guy
Jacques
Julia
Transcribed Image Text:Suppose that Jacques, Julia, Cat, and Guy are potential suppliers of catering services for weddings. Each can cater at most one wedding. Jacques' cost of catering a wedding is $50,000; Julia's cost is $40,000; Cat's cost is $30,000; and Guy's cost is $20,000. If two wedding's are catered, who will be the marginal producer? Cat Guy Jacques Julia
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