Multiple Choice
Use the following to answer question(s) : Wage Determination in Perfect Competition
-(Exhibit: Wage Determination in Perfect Competition) If the price of the good that labor produces goes down, the demand for labor will _______ and the _______ .
A) shift to the right; MRP of labor will fall
B) shift to the left; MRP of labor will fall
C) shift to the left; MFC of labor will rise
D) shift to the right; MFC of labor will fall
Correct Answer:
Verified
Correct Answer:
Verified
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