34. The marginal cost of a unit of labour in a perfectly competitive labour market is equal to: The average marginal revenue product of all workers hired B.) The market wage rate V C. The price of the output d. The average variable cost of production

34. The marginal cost of a unit of labour in a perfectly competitive labour market is equal to: The average marginal revenue product of all workers hired B.) The market wage rate V C. The price of the output d. The average variable cost of production

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter11: Resource Market

Section: Chapter Questions

Problem 5.9P

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Question

34. The marginal cost of a unit of labour in a perfectly competitive labour market is equal to:
The average marginal revenue product of all workers hired
B.) The market wage rate V
C. The price of the output
d. The average variable cost of production

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