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

Question 24

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. If the wage rate is $11, how many workers will Manfred hire to maximize profits? A) 1 B) 2 C) 5 D) 3 If the wage rate is $11, how many workers will Manfred hire to maximize profits?


A) 1
B) 2
C) 5
D) 3

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