Suppose Cassie's Candles is a profit-maximizing competitive firm. Cassie sells hand-made candles for $10 each. She will pay an hourly wage of $20 so long as the marginal productivity of a worker equals or exceeds two candles per hour
a. True
b. False
Indicate whether the statement is true or false
True
Economics
The firm in Figure 11-7 is an unregulated monopolist; it will earn long-run profits of how much?