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AP Microeconomics
Unit 5 – Factor Markets
Topic 5.4
The profit-maximizing principle for factor markets in a monopsony states that the firm should hire the quantity of labor where?
MRC is equal to the wage rate.
MRP is greater than the supply of labor.
MRP is less than MRC.
MRP is equal to MRC.
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AP Microeconomics - 5.4 Monopsony Markets
Key terms
Factor Markets
Monopsony
Profit-maximizing principle
Quantity of labor
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Cram Mode
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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