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Question
A monopolist will hire fewer workers than a perfectly competitive firm because
A) the marginal product curve decreases as additional units of labor are hired for a monopoly but not for a competitive firm.
B) there is a variety of employers in a competitive market and only one in a monopoly.
C) marginal revenue is greater than price for a monopoly while marginal revenue is equal to price for a competitive firm.
D) to sell an additional unit of the good the competitive firm will keep the price the same while the monopolist must lower it on all units sold.
Answer
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