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For a Firm That Is a Price Taker in the Market

Question 111

Multiple Choice

For a firm that is a price taker in the market for labour, the marginal revenue product of labour equals the


A) marginal product of labour multiplied by the wage rate.
B) marginal product of labour multiplied by the product price.
C) marginal product of labour divided by the wage rate.
D) marginal product of labour multiplied by the marginal cost of production.

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