The Equation MP ₗ / Pₗ = MP C

question 205

Multiple Choice

The equation MP ₗ / Pₗ = MP C / P_c

• A)designates the MR = MC level of output.
• B)assumes imperfect competition in the hiring of labor and capital.
• C)is a sufficient condition for the maximization of profits.
• D)is a necessary, but not sufficient, condition for the maximization of profits.

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