Multiple Choice
In a competitive labour market, the wage does which of the following? (i) it adjusts to the balance of supply and demand for labour
(ii) it equals the price of the final good
(iii) it equals the value of the marginal product of labour
A) (i) and (ii)
B) (ii) and (iii)
C) (i) and (iii)
D) (i) , (ii) and (iii)
Correct Answer:
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