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The Figure Given Below Represents Equilibrium in the Labor Market

Question 44

Multiple Choice

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
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 -Refer to Figure 14.5. What wage rate will this firm pay? A) W<sub>1</sub> B) W<sub>2</sub> C) W<sub>3</sub> D) W<sub>4</sub> E) W<sub>5</sub>
-Refer to Figure 14.5. What wage rate will this firm pay?


A) W1
B) W2
C) W3
D) W4
E) W5

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