In a Perfectly Competitive Labor Market, If the Value of Marginal

question 32

Multiple Choice

In a perfectly competitive labor market, if the value of marginal product of the last worker hired is $20 and the wage rate is $25, then the firm should:

• A)hire fewer workers.
• B)hire more workers.
• C)not change the number of workers it hires.
• D)either hire more or fewer workers, depending on the price of the firm's output.

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Definitions:

Lamotrigine

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Valproate

A medication commonly used to treat seizure disorders, bipolar disorder, and to prevent migraine headaches.

Gabapentin

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Hippocampus

A region of the brain involved in forming, organizing, and storing memories, crucial for learning and spatial navigation.