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ECO2023 Chapter 16 Part II Discussion a) Are competitive firms wage makers or wage takers in their hiring decision? Why? (25pts) b) A perfectly competitive

ECO2023 Chapter 16 Part II Discussion a) Are competitive firms wage makers or wage takers in their hiring decision? Why? (25pts) b) A perfectly competitive firm compares what two components in their hiring decision? (25pts) c) What is the condition for a competitive firm's hiring decision? (25pts) d) A competitive farm is thinking about bringing on additional farmer to grow crops but has identified with their current tools that the additional farmer would not be able to generate more revenue from their work than what they are asking for their wage rate. With this information in mind would the farm hire the additional farmer? Why or why not? (25pts)

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