Multiple Choice
Which of the following is correct?
A) Any event that changes the supply or demand for labor must change the value of the marginal product.
B) A profit-maximizing firm hires workers so long as the wage rate exceeds the value of the marginal product of labor.
C) An increase in the supply of labor increases both employment and wages.
D) A decrease in the demand for labor decreases wages but increases employment.
Correct Answer:
Verified
Correct Answer:
Verified
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