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Units of Labor Quantity of Output Product Price Marginal Revenue Product 0 0 $8 1 20 $8 (A) 2 37 $8 (B) 3 47 $8
Units of Labor Quantity of Output Product Price Marginal Revenue Product 0 0 $8 1 20 $8 (A) 2 37 $8 (B) 3 47 $8 (C) 4 53 $8 (D) Use the table above. The data show that marginal revenue is __________ price, thus we are dealing with a(n) __________ competitive firm. Group of answer choices less than; perfectly greater than; perfectly equal to; imperfectly equal to; perfectly
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