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Marginal revenue product

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Reference no: EM131040234

Because a monopoly hires workers up to the point where their marginal revenue product equals the wage rate, the monopoly will

a) pay less than the going wage rate.

b) pay a wage equal to the value of the marginal product of labor.

c) pay less than the value of the marginal product of labor.

d) pay workers what they are worth to society.

Reference no: EM131040234

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