Assume Manfred's Shoe Shine Parlor hires labor, its only variable input, under purely competitive conditions. Shoe shines are also sold competitively. If the wage rate is $11, how many workers will Manfred hire to maximize profits?
A)1
B)2
C)5

Question

Assume Manfred's Shoe Shine Parlor hires labor, its only variable input, under purely competitive conditions. Shoe shines are also sold competitively.  If the wage rate is $11, how many workers will Manfred hire to maximize profits?
A)1 
B)2 
C)5

Quizplus · Accepted Answer

The Answer of Assume Manfred's Shoe Shine Parlor hires labor, its only variable input, under purely competitive conditions. Shoe shines are also sold competitively.  If the wage rate is $11, how many workers will Manfred hire to maximize profits?
A)1 
B)2 
C)5

Assume Manfred's Shoe Shine Parlor Hires Labor, Its Only Variable