refer to the following diagram of a competitive labor market.

-Suppose the wage is currently W₁ and L₁ is the level of employment.If the firm sells its output competitively,the value of the last worker's additional output is _____ and the opportunity cost of the last worker's time is _____:

Question

refer to the following diagram of a competitive labor market.

-Suppose the wage is currently W₁ and L₁ is the level of employment.If the firm sells its output competitively,the value of the last worker's additional output is _____ and the opportunity cost of the last worker's time is _____:

Quizplus · Accepted Answer

The Answer of refer to the following diagram of a competitive labor market. -Suppose the wage is currently W₁ and L₁ is the level of employment.If the firm sells its output competitively,the value of the last worker's additional output is _____ and the opportunity cost of the last worker's time is _____: A)W₁; W₁ B)W₁; W₂ C)W₁; W₃ D)W₂; W₂

Refer to the Following Diagram of a Competitive Labor Market