Suppose a firm hires labor in a perfectly competitive labor market. If the marginal
Chapter 0, Problem 11(choose chapter or problem)
Suppose a firm hires labor in a perfectly competitive labor market. If the marginal revenue product is less than the wage, the firm should definitely a. shut down in the short run. b. shut down in the long run. c. hire more workers. d. hire fewer workers. e. not change the number of workers it hires.
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