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Refer to the Following Figure, Showing the Marginal Revenue Product

Question 29

Multiple Choice

Refer to the following figure, showing the marginal revenue product (MRP) and the average revenue product (ARP) curves of a perfectly competitive firm hiring a single variable input, labor.
Refer to the following figure, showing the marginal revenue product (MRP) and the average revenue product (ARP) curves of a perfectly competitive firm hiring a single variable input, labor. -If the wage is $15, how many workers will the firm hire? A) 250 B) zero C) 100 D) 200
-If the wage is $15, how many workers will the firm hire?


A) 250
B) zero
C) 100
D) 200

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