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3. A firm is profit maximizing, selling its product for $3 and paying its workers $10. If the marginal product of labor is 5, and

3. A firm is profit maximizing, selling its product for $3 and paying its workers $10. If the marginal product of labor is 5, and the marginal cost of labor is $10, then we can be certain that a) this firm is competitive in the output market b) this firm is competitive in the labor market c) both a) and b) d) neither a) nor b)

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