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    Microeconomics Study Set 45
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    Exam 17: Wage Determination
  5. Question
    A Firm Operating in a Purely Competitive Labor Market Has
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A Firm Operating in a Purely Competitive Labor Market Has

Question 92

Question 92

Multiple Choice

A firm operating in a purely competitive labor market has the marginal revenue product schedule shown in the table. A firm operating in a purely competitive labor market has the marginal revenue product schedule shown in the table.   If the wage rate decreases from $17 to $13, by how much will the firm expand employment? A) 5 workers B) 4 workers C) 3 workers D) 2 workers If the wage rate decreases from $17 to $13, by how much will the firm expand employment?


A) 5 workers
B) 4 workers
C) 3 workers
D) 2 workers

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