In the figure above, Nike maximizes its profit if it sells ________ pairs of shoes per day

At what quantity is the firm indifferent between the two technologies?

a. 10 b. 2 c. 5 d. 8

In a competitive market, each seller has limited control over the price of his product because

a. other sellers are offering similar products. b. buyers exert more control over the price than do sellers. c. these markets are highly regulated by the government. d. sellers usually agree to set a common price that will allow each seller to earn a comfortable profit.