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  • 15-03-2024
  • Business
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A profit-maximizing firm hires labor in a perfectly competitive market. Labor is the only variable input, and the marginal product ______ while the marginal revenue is ______:
a) Increases as more output is produced, $2
b) Increases as more output is produced, $20
c) Decreases as more output is produced, $2
d) Decreases as more output is produced, $20

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