Use Figure: Marginal Revenue Product and Labor Demand. The figure shows the marginal revenue product per hour of labor for a competitive firm. If hiring 40 workers per hour maximizes the firm's profit, then the market wage is _____ per hour.

Figure: Marginal Revenue Product and Labor Demand

A) $4
B) $8
C) $12
D) $16

Question

Use Figure: Marginal Revenue Product and Labor Demand. The figure shows the marginal revenue product per hour of labor for a competitive firm. If hiring 40 workers per hour maximizes the firm's profit, then the market wage is _____ per hour.
​
Figure: Marginal Revenue Product and Labor Demand

A) $4 
B) $8 
C) $12 
D) $16

Quizplus · Accepted Answer

The Answer of Use Figure: Marginal Revenue Product and Labor Demand. The figure shows the marginal revenue product per hour of labor for a competitive firm. If hiring 40 workers per hour maximizes the firm's profit, then the market wage is _____ per hour.
​
Figure: Marginal Revenue Product and Labor Demand

A) $4 
B) $8 
C) $12 
D) $16