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Title: An increase in a perfectly competitive firm's demand for labor could be caused by Post by: Hpreet796 on Oct 10, 2019 Question 1. If a worker can produce 20 units of output which can be sold for $4 per unit, what is the maximum wage that firm should pay to hire this worker? ▸ $80 ▸ It depends on what the going wage rate is in the labor market. ▸ $80 minus the firm's profit markup ▸ There is insufficient information to answer the question. Question 2. An increase in a perfectly competitive firm's demand for labor could be caused by ▸ an increase in the market demand for the firm's product. ▸ a decrease in the marginal product of workers. ▸ a decrease in the market wage rate. ▸ an increase in the quantity of labor supplied. Title: An increase in a perfectly competitive firm's demand for labor could be caused by Post by: urbacore on Oct 10, 2019 Content hidden
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