Assume the market for ball bearings is purely competitive. Currently, each of the firms in this market is making a positive level of economic profits. In the long run, we can expect the market:

Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is $4 and the wage rate is $50 per day, how many workers should Winnie employ to maximize his profit?

A) 1 B) 2 C) 3 D) 4

In the long run, wages and prices are considered to be: a. fixed

b. sticky. c. flexible. d. unstable.