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The Equation MP ₗ / Pₗ = MP C

Question 205

Multiple Choice

The equation MP ₗ / Pₗ = MP C / Pc


A) designates the MR = MC level of output.
B) assumes imperfect competition in the hiring of labor and capital.
C) is a sufficient condition for the maximization of profits.
D) is a necessary, but not sufficient, condition for the maximization of profits.

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