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

Question 258

Multiple Choice

Assume Manfred's Shoe Shine Parlor hires labor, its only variable input, under purely competitive conditions. Shoe shines are also sold competitively. 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 At what price does each shoe shine sell?


A) $1
B) $2
C) $3
D) $2.50

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