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In the model with Keynesian sticky wages and prices Question 7 options: The representative firm is not optimizing. The marginal product of labour may not

In the model with Keynesian sticky wages and prices Question 7 options: The representative firm is not optimizing. The marginal product of labour may not be equal to the marginal rate of substitution of leisure for consumption. The representative consumer is choosing labour supply optimally given the market real wage. Supply equals demand in every market. The first welfare theorem holds

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