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According to Chapter 3 (Classical Model), a profit-maximizing firm will hire labor up to the point where: marginal product of labor equals the marginal product


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According to Chapter 3 (Classical Model), a profit-maximizing firm will hire labor up to the point where: marginal product of labor equals the marginal product of capital. O marginal revenue equals zero. marginal product of labor equals real wage. the real wage equals the real rental price of capital.

According to Chapter 3 (Classical Model), a profit-maximizing firm will hire labor up to the point where: marginal product of labor equals the marginal product of capital. marginal revenue equals zero. marginal product of labor equals real wage the real wage equals the real rental price of capital.

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