Multiple Choice
Assume that the going wage for a worker at a competitive firm is $50 a day. If the marginal revenue product for the sixth worker is $45 a day, the
A) sixth worker should be hired.
B) firm is maximizing its profits.
C) firm should hire fewer than six workers.
D) competitive firm can change the wage rate.
Correct Answer:
Verified
Correct Answer:
Verified
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