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Suppose a Firm Sells a Good for a Perfectly Competitive

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Suppose a firm sells a good for a perfectly competitive price of $5. The equilibrium wage rate is $10. The first worker it hires produces five units. Two workers produce a total of nine units. Given this information, the firm will:


Definitions:

Moral Sentiment

An emotional response that informs or is related to one's sense of right and wrong.

Shame

A feeling resulting from the violation of a social norm.

Ethical Subjectivist

The belief that moral judgments are statements of one's feelings or attitudes, and therefore, are neither true nor false.

Right

Morally good, justified, or acceptable; also refers to a legal entitlement or privilege.

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