Multiple Choice
The marginal cost of labor is not
A) change in TLC/change in L
B) equal to the marginal revenue product of labor when the employer completes the hiring process
C) the change in total labor cost that results from employing an additional worker
D) equal to the wage rate in a perfectly competitive market that is in equilibrium
E) the marginal contribution of an additional worker to firm's revenues
Correct Answer:
Verified
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A)
