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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 less than MRC.
MRP is equal to MRC.
MRP is greater than the supply of labor.
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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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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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