The graph represents the supply and demand for labor in a purely competitive market. The area 0 abc represents
A)total revenue of the firm.
B)total earnings of labor.
C)marginal revenue product of labor.
D)marginal labor cost.

Question

The graph represents the supply and demand for labor in a purely competitive market. The area 0 abc represents
A)total revenue of the firm. 
B)total earnings of labor. 
C)marginal revenue product of labor. 
D)marginal labor cost.

Quizplus · Accepted Answer

The Answer of  The graph represents the supply and demand for labor in a purely competitive market. The area 0 abc represents
A)total revenue of the firm. 
B)total earnings of labor. 
C)marginal revenue product of labor. 
D)marginal labor cost.

The Graph Represents the Supply and Demand for Labor in a Purely