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For a Perfectly Competitive Firm, When the Price of the Product

Question 14

Multiple Choice

For a perfectly competitive firm, when the price of the product it sells rises, its MRP of labor curve __________, while its VMP of labor curve __________.


A) stays where it is; shifts to the right
B) shifts to the right; shifts to the right
C) shifts to the right; stays where it is
D) shifts to the left; shifts to the left

Correct Answer:

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