A Firm That Sells Its Output and Hires Its Labor

question 51

Multiple Choice

A firm that sells its output and hires its labor in perfectly competitive markets

• A)controls the price of its output,but accepts the wage rate it pays as given
• B)controls both the price of its output and the wage rate it pays
• C)controls the rate it pays,but accepts the price of its output as given
• D)accepts both the price of its output and the wage rate it pays as given
• E)controls the price of its output,the wage rate it pays,and its own output level

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