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It is argued that firms will hire if and only if the marginal revenue product of labor is greater than the wage rate and will

It is argued that firms will hire if and only if the marginal revenue product of labor is greater than the wage rate and will stop hiring as soon as the two values are equal. Does it means that firms will stop hiring if the prevailing wage rate is not the labor market equilibrium? Why? Why not? Please provide at least one reference.

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