Multiple Choice
Which of the following would be a consequence of a fall in the price of the final product in a competitive industry?
A) Each firm's labor demand curve will shift downward.
B) The marginal value product of labor is higher for each firm.
C) The marginal cost curve for each firm will shift outward away from the origin.
D) The employment of labor in the industry will increase.
Correct Answer:
Verified
Correct Answer:
Verified
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