Assume Manfred's Shoe Shine Parlor hires labor, its only variable input, under purely competitive conditions. Shoe shines are also sold competitively. 
At what price does each shoe shine sell?
Definitions:
Federal Reserve
The central banking system of the United States, responsible for regulating the nation's monetary policy and overseeing the banking system.
Business Borrowing
The act of obtaining funds from lenders or financial institutions by businesses to finance operations, growth, or investments.
Decreases the Money Supply
A monetary policy action that reduces the total amount of money available in the banking system, often aiming to control inflation.
Gross Domestic Product
The total value of all goods and services produced over a specific time period within a country's borders.
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