The figure given below represents equilibrium in the labor market. Figure 14.5 In the figure,
VMP: Value of marginal product curve
MRP: Marginal revenue product curve
MFC: Marginal factor cost
S: Supply curve of labor
According to Figure 14.5,what is the equilibrium level of employment?
A) 0 units
B) L1 units.
C) L2 units.
D) L3 units.
E) L4 units.
Correct Answer:
Verified
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