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Suppose the labor market is in equilibrium. Which of the following statements is false?

Migo7s

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Suppose the labor market is in equilibrium. Which of the following statements is false?

Suppose the labor market is in equilibrium. Which of the following statements is false?

▸

The equilibrium wage rate is equal to the marginal revenue product of labor.

▸

At the equilibrium wage, the quantity of labor demanded equals the quantity of labor supplied.

▸

At the equilibrium wage, the demand for labor is equal to the supply of labor.

▸

Some workers will earn more than the equilibrium wage.

Textbook

InMicro

InMicro

Edition: 1^st

Authors: Hubbard, O'Brien

Read 278 times

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Brady W.

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Thanks!

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