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If a profit-maximizing firm hires its eleventh worker, then it can be inferred that when the firm hired the first 10 workers, the a.marginal product
If a profit-maximizing firm hires its eleventh worker, then it can be inferred that when the firm hired the first 10 workers, the
a.marginal product of labor was increasing.
b.value of the marginal product of labor (VMPL) was larger than the wage.
c.labor demand curve of this firm was becoming more steep.
d.wage was larger than the value of the marginal product of labor (VMPL).
e.market was becoming less competitive.
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