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You are a manager of a firm that sells output in a competitive market for $3 per unit. You employ five workers and deciding whether to hire an additional help. MPL of new hire is expected to be 500 units per week. The market wage rate for the skill you are looking for is $1200 per week. Should you hire another worker? Why? Why not?

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9481294

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