Given that the firm wants to sell both the versions, how high can the high-end professional knives be priced?
a. $60
b. $70
c. $80
d. $100
d
Economics
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The command of World War II (1941–45)
(a) was more structured than that of World War I (1914–18) (WWI). (b) experienced the same unconstitutionality problems experienced during WWI. (c) was distinct from WWI in most ways. (d) did not involve rationing of goods and services, given the high unemployment of the period.
Economics
The above figure shows a competitive firm's demand for labor assuming that the firm's output sells for $1 per unit. If the wage is $5 per hour, a ten cent per unit subsidy on the good sold by the firm will cause the firm to
A) demand less labor. B) demand more labor. C) raise the wage for workers to $5.10. D) None of the above.
Economics