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Consider the demand for labor in a perfectly competitive industry. All other things held constant, if the wage rate increases and all firms want to
Consider the demand for labor in a perfectly competitive industry. All other things held constant, if the wage rate increases and all firms want to hire fewer workersthe wage rate increases and all firms want to hire fewer workers, each firm's marginal revenue product curve will A.decrease because as industry output rises comma the price of the firm's output will rise. decrease because as industry output rises comma the price of the firm's output will rise.decrease because as industry output rises, the price of the firm's output will rise. B.decrease because as industry output rises comma the price of the firm's output will fall. decrease because as industry output rises comma the price of the firm's output will fall.decrease because as industry output rises, the price of the firm's output will fall. C. not change as industry employment changes. D.increase because as industry output falls comma the price of the firm's output will fall. increase because as industry output falls comma the price of the firm's output will fall.increase because as industry output falls, the price of the firm's output will fall. E.increase because as industry output falls comma the price of the firm's output will rise. increase because as industry output falls comma the price of the firm's output will rise.increase because as industry output falls, the price of the firm's output will rise
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