At profit maximization, when a competitive factor market is in equilibrium, the price of the factor will equal

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    the price at which the factor market quantity demanded equals the quantity supplied of the factor.
     The marginal revenue product of the factor.
     the additional revenue resulting from the sale of the output produced by the use of one addition unit of the factor of production.
     All of the above.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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All of the above.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)

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