Harold owns a cranberry bog in which he grows cranberries. Harold’s farm is a competitive, profit-maximizing firm. As such, Harold much decide
(i): how many cranberries to sell.
(ii): what price to charge for his cranberries.
(iii): what wages to pay his workers.
(iv): how many workers to hire.
A. (i) only
B. (ii) and (iii) only
C. (i) and (iv) only
D. (i), (ii), (iii), and (iv)
3 answers
You seem to have a severe identity problem -- posting 12 questions using several different names.
D. (i), (ii), (iii), and (iv)
In the late 1970s, oil prices were expected to increase dramatically once controls disappeared. Regulated prices were pegged as low as $6 per barrel, while global prices had climbed to almost $30. According to the Joint Committee on Taxation, lifting the price controls would produce $1 trillion in new revenue for oil producers between 1980 and 1990. Profits were expected to rise by more than $400 billion over the same period.
3 answers