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shayeshaye00 shayeshaye00
wrote...
Posts: 506
5 years ago

Question 1.

A perfectly competitive firm will hire labor as long as the marginal revenue product of labor is



▸ less than the going wage.

▸ equal to the going wage.

▸ greater than the going wage.

▸ zero.

Question 2.

If labor markets are competitive, wages in those markets are determined by



▸ the interaction of supply and demand.

▸ supply only.

▸ demand only.

▸ neither supply nor demand.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
Read 86 times
1 Reply
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Answer verified by a subject expert
emneviusemnevius
wrote...
Posts: 389
5 years ago
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shayeshaye00 Author
wrote...

5 years ago
this is exactly what I needed
wrote...

Yesterday
You make an excellent tutor!
wrote...

2 hours ago
Good timing, thanks!
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