A competitive profit-maximising firm hires workers up to the point where the wage equals the price of the final good.
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Q3: If a factor market is competitive, then
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Q5: The quantity available of one factor of
Q6: Labour supply curves are always upward sloping.
Q8: Suppose there is a profit-maximising competitive firm.If
Q9: The value of the marginal product curve
Q10: Assuming the standard criteria for profit maximisation,
Q11: The wage rate both balances the supply
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