If MRP = VMP = MFC = Wages, Then the Firm

question 159

Multiple Choice

If MRP = VMP = MFC = wages, then the firm is

• A)selling its product in a perfectly competitive market and is hiring its labor in a perfectly competitive labor market.
• B)selling its product in a perfectly competitive market but is not hiring its labor in a perfectly competitive labor market.
• C)not selling its product in a perfectly competitive market but is hiring its labor in a perfectly competitive labor market.
• D)neither selling its product in a perfectly competitive market nor hiring its labor in a perfectly competitive labor market.

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