A pretzel-stand owner in Chicago hires workers to make hot pretzels and sell them to customers. If the firm is competitive in both the market for pretzels and in the market for pretzel-makers, then it has
A) some control over both the price of pretzels and the wage it pays to its workers.
B) no control over the price of pretzels but some control over the wage it pays to its workers.
C) some control over the price of pretzels but no control over the wage it pays to its workers.
D) no control over either the price of pretzels or the wage it pays to its workers.
Correct Answer:
Verified
Q173: If the demand curve for wedding cakes
Q482: For a competitive, profit-maximizing firm, the labor
Q483: Which of the following events could decrease
Q484: Competitive firms decide how much output to
Q485: Suppose that a new invention decreases the
Q488: Which of the following is true at
Q489: Dan owns one of the many bakeries
Q490: When we focus on the firm as
Q491: Suppose that a new invention increases the
Q492: Competitive firms hire workers until the additional
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents