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    Microeconomics Study Set 40
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    Exam 19: Factor Markets and the Distribution of Income
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    Assume That Perfect Competition Exists in Output and Factor Markets
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Assume That Perfect Competition Exists in Output and Factor Markets

Question 64

Question 64

True/False

Assume that perfect competition exists in output and factor markets.The P = MC rule for profit maximization implies the same level of labor use that would be implied by using the VMPL = W rule.False

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