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If MRP = VMP = MFC = Wages, Then the Firm

Question 81

Multiple Choice

If MRP = VMP = MFC = wages, then the firm is


A) selling its product in a perfectly competitive market and is hiring its labor in a perfectly competitive labor market.
B) selling its product in a perfectly competitive market but is not hiring its labor in a perfectly competitive labor market.
C) not selling its product in a perfectly competitive market but is hiring its labor in a perfectly competitive labor market.
D) neither selling its product in a perfectly competitive market nor hiring its labor in a perfectly competitive labor market.

Correct Answer:

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