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Answer the Question on the Basis of the Following Information

Question 69

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Answer the question on the basis of the following information for Manfred's Shoe Shine Parlor.Assume Manfred hires labor,its only variable input,under purely competitive conditions.Shoe shines are also sold competitively. Units ofLabor01234567TotalProduct01430353944MarginalProduct14102TotalRevenue$4290117126132\begin{array}{c}\begin{array}{c} \text {Units of}\\\underline{\text {Labor}}\\0\\1\\2\\3\\4\\5\\6\\7\end{array}\begin{array}{c}\text {Total}\\\underline{\text {Product}}\\0\\14\\\\30\\35\\39\\\\44\end{array}\begin{array}{c}\text {Marginal}\\\underline{\text {Product}}\\\\14\\10\\\\\\\\\\2\end{array}\begin{array}{c}\text {Total}\\\underline{\text {Revenue}}\\\\\$ 42 \\\\90\\\\117\\126\\132\end{array}\end{array}
Refer to the given data.At what price does each shoe shine sell?


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

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