Multiple Choice
A profit-maximizing firm hires labor up to the point where
A) price of the product equals the value of marginal product.
B) price of the product equals the wage rate.
C) the wage rate multiplied by the quantity of labor equals the marginal product.
D) the wage rate equals the value of marginal product.
E) marginal revenue equals the wage rate.
Correct Answer:
Verified
Correct Answer:
Verified
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