In the short run, which one of the following causes a competitive firm to hire more labor?
A) an increase in wage rate
B) an increase in the output price
C) a specific tax imposed on the firm's output
D) a decrease in the output price
B
Economics
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In the above figure, assume d3 is the demand curve faced by this firm. Which is TRUE?
A. This firm is earning an economic profit. B. This firm is breaking even. C. This firm is experiencing an economic loss. D. This firm's total revenues equal HRD0.
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