In a Noncompetitive Labor Market, the Firm Pays a Wage

In a noncompetitive labor market, the firm pays a wage that is less than the workers' value of marginal product because

A) the marginal cost of labor curve is above the labor supply curve.
B) the labor supply curve is above the marginal cost of labor curve.
C) labor is supplied inelastically.
D) the firm's labor demand curve is downward sloping.
E) the firm's objective is to minimize the wage rather than to maximize profits.