Use the Following to Answer Question

question 97

Multiple Choice

Use the following to answer question:
Figure: The Demand for Bricklayers
-(Figure: The Demand for Bricklayers) Use Figure: The Demand for Bricklayers.The equilibrium market wage for bricklayers is $100.For a profit-maximizing firm at the equilibrium level of output,the VMPL_bricklayers:

• A)is $200.
• B)is equal to the market wage rate.
• C)is irrelevant since the firm is a price taker.
• D)cannot be determined from the information provided.

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Definitions:

Activity

A task, action, or operation performed in a business or industrial context, often contributing to a larger set of operations.

Committed Fixed Costs

Expenses that a company has an obligation to pay, regardless of the level of production or sales activity, such as rent, insurance, and salaries.

One-Year

A period of time consisting of 12 consecutive months.

Sunk Cost

A cost that has already been incurred and cannot be recovered.