Multiple Choice
Given that the market wage rate is $50 and both the labor and the goods market are perfectly competitive,a profit-maximizing firm should hire an additional worker if ________.
A) the marginal product of the worker is 50 units
B) the value of the marginal product of the worker is at least $50
C) the marginal product of the worker is less than 50 units
D) the value of the marginal product of the worker is less than $50
Correct Answer:
Verified
Correct Answer:
Verified
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