Harold owns a cranberry bog in which he grows cranberries. Harold’s farm is a competitive, profit-maximizing firm. As such, Harold much decide.
(i): how many cranberries to sell.
(ii): what price to charge for his cranberries.
(iii): what wages to pay his workers.
(iv): how many workers to hire.
A. (i) only
B. (ii) and (iii) only
C. (i) and (iv) only
D. (i), (ii), (iii), and (iv)