A perfectly competitive employer hires labor up to the point where
A.
wage \(=\) marginal factor cost.
B.
wage \(=\) marginal product of labor.
C.
wage \(=\) marginal revenue.
D.
wage \(=\) marginal revenue product of labor.
E.
wage \(=\) price of the good produced by the labor.
Exam No： AP Micro Practice Test 4 Year：2024 Question No：57
Answer:
D
Knowledge points:
3.5 Profit Maximization
5.2 Changes in Factor Demand and Factor Supply
5.3 Profit-Maximizing Behavior in Perfectly Competitive Factor Markets
Solution:
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