-(Exhibit: Wage Determination in Perfect Competition) in Panel (A)

question 48

Multiple Choice

-(Exhibit: Wage Determination in Perfect Competition) In Panel (a) :

• A) wages in the market are determined by the intersection of demand and supply curves.
• B) the wage is determined where MRP of labor is equal to the MFC of labor.
• C) S₁ is the MFC of labor.
• D) D₁ is the demand for leisure.

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