15. Markets for the Factors of Production
Demand for Labor in Perfect Competition
Multiple Choice
Multiple ChoiceA cupcake shop in a competitive market sells its cupcakes for $20 per dozen. It hires its laborers at a wage of $10 per hour. To maximize its profit, the firm should hire laborers until the marginal product of labor is
A
15 dozens per hour
B
10 dozens per hour
C
2 dozens per hour
D
½ dozen per hour
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