Multiple Choice
Which of the following is not correct?
A) In a labor market, the wage adjusts to balance the supply and demand for labor.
B) A profit-maximizing firm hires workers so long as the wage rate exceeds the value of the marginal product of labor.
C) Any event that changes the supply or demand for labor must change the equilibrium wage.
D) Any event that changes the supply or demand for labor must change the value of the marginal product.
Correct Answer:
Verified
Correct Answer:
Verified
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