Commodity products are

The above table has the total product schedule for Joe's Barber Shop. Joe charges $6 per haircut. If the wage rate is $24 per worker, what quantity of labor will maximize profits?

A) 1 worker B) 2 workers C) 4 workers D) 5 workers

When a binding price ceiling is imposed on a market, a. price no longer serves as a rationing device

b. the quantity supplied at the price ceiling exceeds the quantity that would have been supplied without the price ceiling. c. all potential buyers benefit. d. All of the above are correct.