Question
A firm operates in a perfectly competitive output market with a product price of $12. If the marginal product of the last worker employed is
A firm operates in a perfectly competitive output market with a product price of $12. If the marginal product of the last worker employed is 3 units and the firm competes in a perfectly competitive labor market, then the wage must be
a. $12
b. $9
c. $4
d. $15
e. $36
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The End Of Poverty Economic Possibilities For Our Time
Authors: Jeffrey D Sachs, Bono
1st Edition
0143036580, 9780143036586
