If a firm sells its product in a monopolistic market, even though the firm operates in a perfectly competitive labor market, the firm will employ workers up to the point where
A) TR = TC.
B) the MRP = the wage rate.
C) the MRP = the marginal physical product of labor.
D) the MRP = the output price.
Answer: B
Economics
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During the Great Depression, the money supply fell 28%. During that same time, the monetary base ____ and the currency-to-deposit ratio and reserve-to-deposit ratios both _____
a. rose; fell b. rose; rose c. fell; rose d. fell; fell
Economics