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Which of the following best characterizes where a competitive firm would set the wage for its workers? Below the intersection of the marginal revenue product

Which of the following best characterizes where a competitive firm would set the wage for its workers?

Below the intersection of the marginal revenue product of labor and supply curve

Where the marginal revenue product of labor intersects the labor supply curve

Where the marginal factor cost of labor intersects the supply curve

Above the intersection of the marginal factor cost of labor and the supply curve.

None of the above

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