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Business, 12.12.2019 00:31 zhellyyyyy

José, a corn farmer operating in a perfectly competitive market, pays his workers $8 an hour. at his current level of labor use, the marginal product of an additional hour of labor is three bushels of corn. the market price of corn is $2.75. to maximize his profits, jose should:
not change the amount of labor.
hire more labor.
hire less labor.
this question cannot be answered without knowing the average product of labor.

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José, a corn farmer operating in a perfectly competitive market, pays his workers $8 an hour. at his...
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