Multiple Choice
If MRP = VMP = MFC = wages, then the firm is
A) selling its product in a perfectly competitive market and is hiring its labor in a perfectly competitive labor market.
B) selling its product in a perfectly competitive market but is not hiring its labor in a perfectly competitive labor market.
C) not selling its product in a perfectly competitive market but is hiring its labor in a perfectly competitive labor market.
D) neither selling its product in a perfectly competitive market nor hiring its labor in a perfectly competitive labor market.
Correct Answer:
Verified
Correct Answer:
Verified
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