A Firm Operating in a Purely Competitive Labor Market Has

question 253

Multiple Choice

A firm operating in a purely competitive labor market has the marginal revenue product schedule shown in the table. $\begin{array}{l}\begin{array} { | c | c | } \hline\text { Warkers}& \text {MRP }\\\hline 1 & \$ 24 \\\hline 2 & 22 \\\hline 3 & 20 \\\hline 4 & 18 \\\hline 5 & 16 \\\hline 6 & 14 \\\hline 7 & 12 \\\hline\end{array}\end{array}$ If the wage rate decreases from $17 to $13, by how much will the firm expand employment?

• A) 5 workers
• B) 4 workers
• C) 3 workers
• D) 2 workers

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