A small city has a number of hot dog stands operating throughout the CBD area. Suppose that each vendor has a marginal cost of R1,50 per hot dog sold and no fixed cost. Suppose the maximum number of hot dogs that any one vendor can sell is 100 per day.

10. If a hot dog is priced at R2, how many hot dogs would each street vendor want to sell

per day?

[1] 0

[2] 50

[3] 75

[4] 100