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Figure 18-3 The Figure Shows a Particular Profit-Maximizing, Competitive Firm's Value-Of-Marginal-Product (VMP)

Question 172

Multiple Choice

Figure 18-3
The figure shows a particular profit-maximizing, competitive firm's value-of-marginal-product (VMP) curve. Figure 18-3 The figure shows a particular profit-maximizing, competitive firm's value-of-marginal-product (VMP) curve. ​ -Refer to Figure 18-3. Suppose the marginal product of the fifth unit of labor is 30 units of output per day. The figure implies that the A) price of output is $4. B) price of output is $6. C) price of output is $8. D) daily wage is $120. ​
-Refer to Figure 18-3. Suppose the marginal product of the fifth unit of labor is 30 units of output per day. The figure implies that the


A) price of output is $4.
B) price of output is $6.
C) price of output is $8.
D) daily wage is $120.

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