A Pretzel-Stand Owner in Chicago Hires Workers to Make Hot

question 14

Multiple Choice

A pretzel-stand owner in Chicago hires workers to make hot pretzels and sell them to customers. If the firm is competitive in both the market for pretzels and in the market for pretzel-makers, then it has

• A)some control over both the price of pretzels and the wage it pays to its workers.
• B)no control over the price of pretzels but some control over the wage it pays to its workers.
• C)some control over the price of pretzels but no control over the wage it pays to its workers.
• D)no control over either the price of pretzels or the wage it pays to its workers.

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Definitions:

Cultural Activities

Events or practices that reflect the traditions, arts, social institutions, and achievements of a particular nation, people, or other social group.

Social Relations

The interactions and connections among individuals and groups, encompassing a wide range of human society dynamics.

Language

A structured system of communication, consisting of symbols, sounds, or gestures, used by humans to express thoughts, emotions, and ideas.

Culture

The shared values, traditions, norms, customs, arts, history, folklore, and institutions of a group of people.