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A competitive, profit-maximizing firm hires workers up to the point where the value
of the marginal product of labor equals

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Joshua Stredder
Joshua StredderLv10
2 Oct 2020

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Related questions

A competitive, profit-maximizing firm hires workers up to the point where the:
1. marginal product equals zero
2. value of the marginal product equals the wage
3. marginal product equals the wage
4. marginal revenue product equals zero. 
A competitive, profit-maximizing firm hires labor until the point where the:
1. marginal product equals zero
2. value of the marginal product equals the wage
3. marginal product equals the wage
4. marginal revenue product equals zero. 

A competitive, profit-maximizing firm hires labor until the:

a. marginal product of labor equals the wage.

b. price of output multiplied by the marginal product of labor equals the wage. 

c. real wage equals the real rental price of capital. 

d. wage equals the rental price of capital.

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