The available data strongly suggest that, as the "needs" argument would suggest, the demand for health care is virtually perfectly inelastic

Which of the following is clearly being sold below cost?

A) 2-for-the-price-of-one theatre tickets B) Senior-citizens discounts on meals at the local diner C) The free software included in the purchase of a new personal computer D) The magazine subscription offering 30% off the regular newsstand price E) None of the above.

The preceding table gives monthly production information for Peter's Peanuts, a firm in a perfectly competitive industry. The market price of peanuts is $2.00 per pound. A worker costs $1,200 per month

How many workers does Peter hire to maximize his profit? A) zero B) one C) three D) four