Question

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)

Answer 1

You seem to have a severe identity problem -- posting 12 questions using several different names.

Answer 2

D. (i), (ii), (iii), and (iv)

Answer 3

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.