If firms are competitive and profit-maximizing, the demand curve for labor is determined by a. the opportunity

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If firms are competitive and profit-maximizing, the demand curve for labor is determined by

a. the opportunity cost of workers’ time.

b. the value of the marginal product of labor.

c. the value of the marginal product of capital.

d. the ratio of the marginal product of labor to the marginal product of capital.

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