Sally runs a hair styling salon. Sally is a profit-maximizing owner whose firm operates in a competitive market. The marginal cost of a haircut is $15. What is the maximum wage that Sally will pay her stylists?
A) less than $15 per haircut
B) $15 per haircut
C) more than $15 haircut
D) There is insufficient information to answer this question.
Correct Answer:
Verified
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