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Figure 8.3-Apple Production

Question 111

Multiple Choice

Figure 8.3-Apple Production Figure 8.3-Apple Production -In Figure 8.3,for the 7<sup>th</sup> through the 10<sup>th</sup> worker: A) MRP is greater than or equal to the equilibrium wage rate and these workers will be hired. B) MRP is less than the equilibrium wage rate and these workers will not be hired. C) MPP is greater than the equilibrium wage rate and these workers will be hired. D) The equilibrium wage rate is too high and the firm does not accept the wage.
-In Figure 8.3,for the 7th through the 10th worker:


A) MRP is greater than or equal to the equilibrium wage rate and these workers will be hired.
B) MRP is less than the equilibrium wage rate and these workers will not be hired.
C) MPP is greater than the equilibrium wage rate and these workers will be hired.
D) The equilibrium wage rate is too high and the firm does not accept the wage.

Correct Answer:

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