Suppose a firm has some power in the product market and hires labor in a perfectly competitive labor market.If the market wage rate is $20,the marginal product of the last worker hired is 5,and the firm is hiring the profit-maximizing amount of labor,then the marginal revenue product of the last worker hired is _____
A) $1.
B) $1.50.
C) $4.
D) $5.
E) $20.
Correct Answer:
Verified
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