A competitive, profit-maximizing firm hires labor until the point where the:

1. marginal product equals zero
2. value of the marginal product equals the wage
3. marginal product equals the wage
4. marginal revenue product equals zero.

Question

A competitive, profit-maximizing firm hires labor until the point where the:

1. marginal product equals zero
2. value of the marginal product equals the wage
3. marginal product equals the wage
4. marginal revenue product equals zero.

A competitive, profit-maximizing firm hires labor until the point where the:

1. marginal product equals zero

2. value of the marginal product equals the wage

3. marginal product equals the wage

4. marginal revenue product equals zero.

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A competitive, profit-maximizing firm hires labor until the point where the: 1. marginal product equals zero 2. value of the marginal product equals the wage 3. marginal product equals the wage 4. marginal revenue product equals zero.