Multiple Choice
In a perfectly competitive labor market, if the value of marginal product of the last worker hired is $20 and the wage rate is $25, then the firm should:
A) hire fewer workers.
B) hire more workers.
C) not change the number of workers it hires.
D) either hire more or fewer workers, depending on the price of the firm's output.
Correct Answer:
Verified
Correct Answer:
Verified
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