Assume that both the goods and the labor market are perfectly competitive. If at equilibrium, the wage rate is $20 per hour and the marginal product of labor is 4 units, the firm's marginal cost must be equal to:
A) $5.
B) $24.
C) $40.
D) $80.
A
Economics
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A) $20. B) $30. C) $50. D) $70.
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What will be an ideal response?
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Indicate whether the statement is true or false
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