Assume Manfred's Shoe Shine Parlor hires labor, its only variable input, under purely competitive conditions. Shoe shines are also sold competitively. At what price does each shoe shine sell?
A)$1
B)$2
C)$3
D)$2.50

Question

Assume Manfred's Shoe Shine Parlor hires labor, its only variable input, under purely competitive conditions. Shoe shines are also sold competitively.  At what price does each shoe shine sell?
A)$1 
B)$2 
C)$3 
D)$2.50

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.  At what price does each shoe shine sell?
A)$1 
B)$2 
C)$3 
D)$2.50

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